Saturday, October 16, 2010

The Wealthy Freelancer by Steve Slaunwhite, Pete Savage & Ed Gandia - Book review



The Wealthy Freelancer

12 Secrets to a Great Income and an Enviable Lifestyle


By: Steve Slaunwhite, Pete Savage, Ed Gandia

Published: March 2, 2010
Format: Paperback, 288 pages
ISBN-10: 1592579671
ISBN-13: 978-1592579679
Publisher: Alpha Books/Penguin










"Most freelancers begin their self-employment journey with a dream", write successful freelancers and consultants at TheWealthyFreelancer.com, Steve Slaunwhite, Pete Savage and Ed Gandia in their practical and dream business building book The Wealthy Freelancer: 12 Secrets to a Great Income and an Enviable Lifestyle. The authors share their experience and advice generously as they guide new and long time freelancers toward that wonderful self employment dream.



Steve Slaunwhite (photo left), Pete Savage, and Ed Gandia understand that different freelancers hold a wide range of goals for their business. As a result, the authors provide advice for achieving a balance of income and lifestyle benefits from being self employed. Creating and enjoying that harmony between the work world and one's personal life is a key component of the advice presented in the book. The authors stress remaining true to the vision that sparked the desire to live the freelance voyage, and that maintaining its accompanying goals are critical to success. The authors realize that it is all too easy to lose sight of the target, and this book provides the tools necessary to remain on course in both the business side and the personal side of life. By focusing on the lifestyle that is ideal for the freelancer, then the ideal clients and work schedule can be developed naturally to reach the most desirable personal goals.



Pete Savage (photo left), Ed Gandia, and Steve Slaunwhite recognize that more than a dream is essential to becoming a successful freelance business person. There is also the necessity of taking the appropriate action to turn that dream into a reality. With that in mind, the authors share their proven techniques, for building a successful freelancing company, that will keep the business moving forward to profitability and an enviable life. The authors share their four components of a successful freelance business to help get:

* The projects you want
* The clients you want
* The income you want
* The lifestyle you want

With those four factors firmly in mind, and their equal importance for success emphasized, the authors present the methods required to make each of those four core components a reality. When all four conditions are working as one, the freelancer will achieve the dream of self employment combined with an engaging way of living.



Ed Gandia (photo left), Steve Slaunwhite, and Pete Savage leave no aspect of the freelance business uncovered, as they demonstrate that self employment in the freelancing world doesn't have to be one of low income and heavy time commitments. For me, the power of the book is how the authors combine the importance of living the life a person wants while also gaining wealth and a solid reputation as a reliable business person. The book mixes the theory and background of successful freelancing with real world marketing and customer service concepts that have stood the test of time. The inclusion of stories of freelancers who have broken out of the scraping by rut that traps so many start up business, is a welcome and inspirational aspect of the book. Combined with the proven business growth strategies, and the utilization of them on the freelancer's own terms, makes this book a mist read for anyone developing a business in the freelance world.

I highly recommend the essential and business transformational book The Wealthy Freelancer: 12 Secrets to a Great Income and an Enviable Lifestyle by Steve Slaunwhite, Pete Savage, and Ed Gandia, to anyone operating their own freelance business. There is advice and real value in this book for self employed person whether they are new to freelancing, or if they are seasoned professionals searching for better work-life balance. For anyone caught in a cycle of boom and bust workloads, this book is a revelation on how to maintain a steady and profitable flow of your ideal clients.

Read the valuable and idea packed book The Wealthy Freelancer: 12 Secrets to a Great Income and an Enviable Lifestyle by Steve Slaunwhite, Pete Savage, and Ed Gandia, and live the high income, stress reduced freelance business of your dreams. The advice offered in this fascinating book can indeed change your life for the better.

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Wednesday, October 13, 2010

Jonathan L. S. Byrnes: Islands of Profit in a Sea of Red Ink - Author interview



Profitability expert and Senior Lecturer at MIT, Jonathan L. S. Byrnes, was kind enough to take the time to answer a few questions about his visionary and revolutionary book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It.

Jonathan L. S. Byrnes makes the startling statement that 40 percent of any business is unprofitable by any measure. He points out that managers are not only not examining or taking action to correct the problem; but are very often not even aware of its existence.

Thanks to Jonathan L. S. Byrnes for his time, and for his very comprehensive and informative responses to the questions. They are greatly appreciated.

What was the background to writing this book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It?

Jonathan L. S. Byrnes: I have done research and consulting on profitability for over 20 years. I first saw the amazing pattern of profitability – islands of profit in a sea of red ink – when I worked with a leading laboratory supply company. Soon after, I saw it again with one of the leading telecom companies. In both companies, I found that I could make major improvements quickly and without the need for costly initiatives. Since that time, I have seen the same thing in over a dozen industries, including steel, healthcare, retail, manufacturing, high tech, and financial services.

Sean Silverthorne, editor of Harvard Business School’s Working Knowledge website and e-newsletter invited me to write a monthly column on profitability, and more recently I developed this knowledge and experience into Islands of Profit in a Sea of Red Ink .

You make the startling point in the book that 40% of a company is very unprofitable, and that 20% - 30% of the company is very profitable, while the rest of the organization is marginal at best. Why is this phenomenon occurring across so many companies?

Jonathan L. S. Byrnes: All of our management information and processes were developed in a prior business era. Our accounting categories are too broad to see which accounts and products are profitable and which aren’t – so people simply assume that more revenues equals more profits. Some revenues are very profitable, and a surprising portion produce big losses. In virtually all companies, no one is responsible for monitoring and managing the interaction of revenues and costs at the grass-roots level to maximize profits.

Is it possible to pull up the losing operations, boost the languishing mediocre departments to profitability or does something else need to be done?

Jonathan L. S. Byrnes: Yes, it is certainly possible to improve most of the losing operations. However, the first priority is to secure the profitable business before a competitor goes after it with a focused offering. The second priority is to get more business that fits the company’s operations. Only after that should a company focus on turning around the marginal business. As a last step, the company should reprice the business that will never make money.

Can companies duplicate or enhance the real profit generating power of the best performing departments across the entire company?

Jonathan L. S. Byrnes: Yes, companies can both duplicate and enhance the profit generating power of the best business. The key to the former is to identify high-potential under penetrated accounts and to focus sales and service resources on ramping them up. This will rapidly increase the company’s high-profit business. The key to enhancing already profitable business is to develop products and services that fit their unique needs. When a company concentrates on its high-profit core of business, and devotes appropriate resources to the effort, it can easily lock in the business and even increase its profitability.

The problem is that most managers try to maximize revenues, assuming that this will maximize profits. This is a big mistake. They wind up with average products and services aimed at the average customer, and this gives them only average profitability – profits much lower than they might otherwise be, and an amazingly large amount of embedded unprofitability.



Jonathan L. S. Byrnes (photo left)

Why is no one thinking in terms of profitability in these companies?

Jonathan L. S. Byrnes: Most managers make three big mistakes:

(1) assuming that more revenues means more profits
(2) failing to focus attention and resources on securing and growing the business that produces high sustained profitability – this makes a company vulnerable to focused competitors and reduces reported profits.
(3) failing to put anyone in charge of maximizing account and product profitability at the grassroots level (in contrast with putting lots of people in charge of managing budgets).

Are the management concepts in current use perhaps out of date in the modern economy?

Absolutely. In the prior “Age of Mass Markets,” companies sought the economies of scale of mass production, coupled with mass distribution using arm’s length customer relationships. In that era, more revenues really did mean lower costs and more profits.

In today’s “Age of Precision Markets,” companies form different relationships with different sets of customers, each with different costs and profits. Yet, virtually all of our management information and processes were developed in the prior era, when all revenues really were equally desirable. This is the underlying reason why almost every company has so much embedded unprofitability and why so many managers fail to see and build their sustainably profitable core of business.

Many companies believe that revenues are good and need boosting; and that costs are bad and are something to cut in every way possible. Why is this a myth that needs challenging?

Jonathan L. S. Byrnes: Some revenues are very profitable, and some are very unprofitable. When managers use “profit mapping,” which I describe in my book, to look carefully at their companies’ net profitability, they see that 20-30% percent is profitable, 30-40% percent unprofitable, and the remainder marginal. This is true of virtually any company.

By focusing on average, or aggregate, profitability, managers lose this essential fact, along with the opportunity to quickly increase profitability at very little cost using sharply targeted measures. Because most sales compensation systems are based simply on revenues – and not all sales dollars are equally profitable (many are not profitable at all) - most companies are doomed to carry significant embedded unprofitability.

If all revenues are viewed as equally desirable, it follows that all costs are uniformly bad. Thus, most cost reduction programs are broad and across the board. This is a very big problem in a slow economy, when the instinct is to cut all costs in sight. In fact, the very profitable portion of your business can and should support the extra expenditures needed to lock in and grow that segment of your business. But this is usually precluded because the unprofitable business absorbs unwarranted resources.

Standard customer service advice is to treat all customers as being equal. Why is this the wrong approach?

Jonathan L. S. Byrnes: If a company tries to give all its customers the same service, it will wind up giving very profitable customers too little service, while unprofitable customers get too much service. Moreover, if the best customers are more capable at critical supply chain functions like forecasting, or have a higher-volume demand, or a steadily order pattern (all usually true), their cost to serve will be much lower than the average customer. If so, than the best customers will be underserved and overcharged. And this is usually the case.

The way to solve this problem is to use “service differentiation.” This means that the company makes different service promises (like order cycle time) to different customers, but always keeps its promises. The true definition of service level is the percent of time a supplier keeps its promises, not the nature of the promises themselves. If a customer wants faster service, it can sign a long-term cooperative contract.

Why is it not enough that everyone in the company does his or her job well to achieve profitability?

Jonathan L. S. Byrnes: This is a very good question. In the “Age of Mass Markets,” companies were in a homogeneous environment with arm’s length relationships. In this context, a company could set in place the activities of its functional departments (Sales, Operations, etc.), and the company’s success relied on everyone doing his or her job, without scrambling the other departments. A centralized, “smokestack” organization was indeed the most appropriate one.

Today, companies form a variety of relationships with their customers, and nearly all require close interdepartmental coordination for success. This applies to account selection, relationship selection, account development, and account management. In fact, today the best way to lock in a key customer is to develop a highly-integrated supply chain with the customer. This will reduce costs enormously for both companies, and drive sales increases of over 35%, even in highly-penetrated accounts. At the same time, the best way to increase supply chain productivity is to select the accounts and customer relationships that fit a company’s supply chain’s capabilities. Service differentiation is the key to this.

In this world, business success depends on everyone coordinating closely with his or her counterpart managers – all constantly changing what they are doing to accommodate the others so the company gets more and more profitable.

Many companies, top management, and their employees are resistant to change. How can company culture be changed to thinking in terms of profit?

Jonathan L. S. Byrnes: Top management must put in place four building blocks in order to lead a profitability transformation:

(1) the right information – granular (specific products in specific customers) not aggregated
(2) the right priorities – first, secure and grow the profitable business, then improve the marginal business, then reprice the money-losers
(3) the right processes – mostly coordinating sales, marketing and operations to get things right
(4) the right compensation, especially for sales – matching compensation to real profitability not just revenues.

However, the precondition for success is that everyone has to manage at the right level. Vice presidents should spend most of their time positioning the company for the next 3-5 years – since that’s the time it takes to develop major new initiatives. Directors (department heads) should spend half their time coordinating with each other to manage the company’s profitability, and the other half directing the managers who report to them. Managers should run the day-to-day company. Instead, in many companies, everyone focuses primarily on the company’s day-to-day performance.

What is the first step a company should take toward thinking more in terms of real profitability?

Jonathan L. S. Byrnes: A small team of managers can analyze the profitability of a multi-billion dollar company at a very granular level in several weeks using standard desktop tools. This is the first step. With this view, the management team can develop a highly targeted set of initiatives to secure and grow the best business, and to turn around the marginal business. Within a year, the company will experience a dramatic, sustainable increase in profitability.

What is next for Jonathan Byrnes?

Jonathan L. S. Byrnes: Good question. I’m very busy with my teaching and research at MIT, and with my consulting and Board of Director responsibilities. But I really enjoy writing. A number of managers have expressed interest in three areas:

(1) being effective (structuring, managing and leading change)
(2) account management
(3) small business growth and profitability.

I have done a lot of work in all three areas, and I’m intrigued by each. If your readers have any thoughts on this, I would love to hear from them – they can reach me at jlbyrnes@mit.edu.

Thank you for your time and interest. Jonathan

**********

My book review of Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It by Jonathan L. S. Byrnes.

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Islands of Profit in a Sea of Red Ink by Jonathan L. S. Byrnes - Book review


Islands of Profit in a Sea of Red Ink

Why 40 Percent of Your Business Is Unprofitable and How to Fix It


By: Jonathan L. S. Byrnes

Published: October 14, 2010
Format: Hardcover, 304 pages
ISBN-10: 1591843499
ISBN-13: 978-1591843498
Publisher: Portfolio/Penguin






"The most important issue facing most managers is how to make more money from their existing business without starting costly new initiatives", writes profitability expert and Senior Lecturer at MIT, Jonathan L. S. Byrnes in his visionary and revolutionary book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It. The author makes the startling statement that 40 percent of any business is unprofitable by any measure. He points out that managers are not only not examining or taking action to correct the problem; but are very often not even aware of its existence.

Jonathan Byrnes presents sobering evidence that while 40 percent of a company's departments are drowning in losses, a mere 20 to 30 percent of the business is so profitable that it subsidizes the entire organization. The balance of the departments are marginal at best and just barely break even. Through his intensive research, the author uncovered two problems with the modern corporation. The issue of why today's companies all share a similar 40 percent red ink profile is because business is in the midst of massive transitional phase. The former Age of Mass Markets, according to the author, is being replaced by the Age of Precision Markets. This historic sea change is especially traumatic for business leaders as they lack the tools to accommodate the transition within their own companies. Business leaders must become aware of this revolution in markets and take appropriate action to manage the change.



Jonathan L. S. Byrnes (photo left) recognizes that this structural loss scenario plays out in company after company, and in a vast array of industries. It is not an isolated problem. Managers must understand the challenges and uncover ways of achieving profits in other areas of the company, which is where the current tools available to managers break down in the face of change. The management and information control techniques, including accounting methods, were developed in the earlier era, and are completely ineffective in the burgeoning new era of business. These challenges require attention and management must adapt their understanding to the evolving business paradigm. One of the areas described by the author as requiring a complete revamping is that of accounting. Standard accounting categories were devised in the mass market era, and they are insufficient for providing complete understanding in the market precision era. The accounting principles, as currently devised, perpetuate the dangerous myth that more revenue equates to greater profits, when there is no correlation between them within most companies.

For me, the power of the book is how Jonathan L. S. Byrnes describes the changing market environment from the Mass Markets Era to the Precision Markets Era, and the effect of that ongoing transition on company profits. Through his intensive and perceptive research, the author points out that only about a quarter of a company's efforts are actually profitable. The balance of the company is either treading water or suffering outright losses. The failure of these departments and subsidiaries to achieve profitability not only drains the profits from the effective areas of the company, but also masks the weakness of the failing sections.

The usual solution, applied by managers with experience formed in the previous paradigm, is to either increase revenue or cut costs. The illusion of profits is then created, according to the accounting measures developed in the earlier era. The prescription of a new accounting model is timely and necessary to adapt to the new precision market realities. The author also recognizes that employees simply doing their jobs is no longer enough. They must manage change, develop relationships with customers, supply chains and managerial counterparts, as well as manage at the proper level.

I highly recommend the groundbreaking and must read book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It by Jonathan L. S. Byrnes, to any managers seeking clarity about the reality of profitability in the modern company. The eye opening fact, described in this book, that only 20 to 30 percent of a company's operations are profitable serves as a critical wake up call to business leaders. The clear understanding that increased revenue doesn't equal more profit should also be recognized and internalized by by managers in this transitional business era.

Read the essential and important book Islands of Profit in a Sea of Red Ink: Why 40 Percent of Your Business Is Unprofitable and How to Fix It by Jonathan L. S. Byrnes, and discover how to increase the profitability of your company in the new business era of precision markets, and move ahead of your competition to become an industry leader.

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AnnaMaria Turano: Shopper Marketing - Blog Business Success Radio

Listen to Wayne Hurlbert on Blog Talk Radio



Executive director of MCAworks, and key contributor to the comprehensive and retail marketing changing collection Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale AnnaMaria Turano, describes how shoppers have changed their buying habits and how businesses must adapt to meet the new reality. The concept of time has changed for consumers in ways that impact on how companies must change to take time shift and time pressure into account. AnnaMaria describes how marketers can balance customer time shortages with potential for lengthening the shopping experience as well. Discover why companies don't always consider buyer behavior when planning their marketing campaigns. Learn how to integrate time factors into marketing and shopping experiences.

AnnaMaria Turano is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.

The show airs live on Thursday, October 14, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.

Executive director of MCAworks, and key contributor to the comprehensive and retail marketing changing collection Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale AnnaMaria Turano, describes how shoppers have changed their buying habits and how businesses must adapt to meet the new reality. You will learn:

* How our lives that makes the concept of Time more important than before

* Why there times when it makes sense to help customers spend more time shopping

* Why people make the buying decisions they make and how they make them

* How to quantify and measure customer perceptions of time



Anna Maria Turano (photo left) leads client engagements across a diverse set of industries including financial services, pharmaceuticals, telecommunications, software, and consumer packaged goods. She has helped companies develop and roll-out strong customer value propositions and strategic plans as well as identify market expansion opportunities via new products, new targets, new geographies, and new processes.

AnnaMaria is co-author, with John Rosen, of Stopwatch Marketing – Take Charge of the Time When Your Customer Decides to Buy, which was published by Viking Penguin group in January 2008. AnnaMaria is also a featured contributing author to Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale, which was published by Kogan Page in February 2010. AnnaMaria has taught marketing as an Adjunct Professor at NYU’s Stern School of Business.

Prior to consulting, AnnaMaria managed leading brands at Reckitt Benckiser and MasterLock.

AnnaMaria holds both an M.B.A. in Marketing and Business Policy and a B.A. in English Literature from the University of Chicago.

My book review of Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale edited by Markus Stahlberg and Ville Maila.

Listen live on Thursday at 8:00 pm Eastern, 5:00 pm Pacific time.

BlogTalkRadio.com

If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.

Add to iTunes

To call in questions for my guest, the number is: (347) 996-5832

Let's talk with Executive director of MCAworks, and key contributor to the comprehensive and retail marketing changing collection Shopper Marketing: How to Increase Purchase Decisions at the Point of Sale AnnaMaria Turano, as she describes how shoppers have changed their buying habits and how businesses must adapt to meet the new reality. The concept of time has changed for consumers in ways that impact on how companies must change to take time shift and time pressure into account. AnnaMaria describes how marketers can balance customer time shortages with potential for lengthening the shopping experience as well. Discover why companies don't always consider buyer behavior when planning their marketing campaigns. Learn how to integrate time factors into marketing and shopping experiences on Blog Business Success Radio.

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Monday, October 11, 2010

Adrian Ott: The 24-Hour Customer - Blog Business Success Radio

Listen to Wayne Hurlbert on Blog Talk Radio



Business strategist, CEO and founder of Exponential Edge® Consulting., and author of the groundbreaking and insightful book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy, Adrian C. Ott, describes how time isn't money any longer. Time is now more important than money. Time and technology have changed the competitive landscape and smart companies must use them as strategic tools. Adrian Ott shares fresh ideas for capitalizing on the elements of time, attention, and value. These elements will create new and innovative products, services, and programs. The new offerings, unlike those of competitors, will increase revenue and gain market share. Adrian Ott will change your mind about the way you think about your business, and more importantly, about your customers.

Adrian C. Ott is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.

The show airs live on Tuesday, October 12, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.

Business strategist, CEO and founder of Exponential Edge® Consulting., and author of the groundbreaking and insightful book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy, Adrian C. Ott, describes how time isn't money any longer. Time is now more important than money. You will learn:

* Why time and attention are critical factors in customer buying decisions

* Why consumers are pressed for time in a technological and connected world

* How companies can integrate time and attention variables into their strategies

* How some companies use disruptive innovation to challenge their competitors



Adrian C. Ott (photo left) is , CEO and founder of Exponential Edge® Consulting., was called “one of Silicon Valley’s most respected (if not the most respected) strategist” by Consulting Magazine. She has worked with some of the most innovative Fortune 500 and start-up companies in the world to gain a market edge in today’s exponential economy. In addition to assisting clients, she writes a popular column at FastCompany.com, and Chairs the Strategy & Growth Roundtable for the Harvard Business School Association of Northern California, the largest HBS alumni club in the world.

Prior to founding Exponential Edge® Consulting., she was an HP executive who was recognized in an annual report for “infusing HP with new revenue streams and new technologies and new business models.”

Adrian holds an MBA from the Harvard Business School and a B.S. from U.C. Berkeley. She lives in the San Francisco Bay Area.

My book review of The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy by Adrian C. Ott.

Listen live on Tuesday at 8:00 pm Eastern, 5:00 pm Pacific time.

BlogTalkRadio.com

If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.

Add to iTunes

To call in questions for my guest, the number is: (347) 996-5832

Let's talk with business strategist, CEO and founder of Exponential Edge® Consulting., and author of the groundbreaking and insightful book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy, Adrian C. Ott, as she describes how time isn't money any longer. Time is now more important than money. Time and technology have changed the competitive landscape and smart companies must use them as strategic tools. Adrian Ott shares fresh ideas for capitalizing on the elements of time, attention, and value. These elements will create new and innovative products, services, and programs. The new offerings, unlike those of competitors, will increase revenue and gain market share. Adrian Ott will change your mind about the way you think about your business, and more importantly, about your customers on Blog Business Success Radio.

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The 24-Hour Customer by Adrian Ott - Book review





The 24-Hour Customer

New Rules for Winning in a Time-Starved, Always-Connected Economy


By: Adrian C. Ott

Published: August 10, 2010
Format: Hardcover, 240 pages
ISBN-10: 0061798614
ISBN-13: 978-0061798610
Publisher: HarperBusiness









"Today, time isn't money. Time is more important than money", writes renowned business strategist and founder and CEO of Exponential Edge Inc., Adrian C. Ott in her groundbreaking and insightful book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy. The author describes time as being more critical today for companies than brand recognition, product features, authenticity, and any of the other myriad of priorities considered by business leaders.

Adrian Ott challenges the conventional wisdom on the value of time, and how companies are approaching the entire concept of how consumers factor time into their decision making process. The ability of a customer to make buying choices around the clock, through the internet and a host of mobile devices, is disrupting standard marketing strategies. The disruptive innovation of how technology is being utilized by time pressured consumers, is changing the face of marketing itself. The dimension of time must now be considered one of the basic premises of marketing for products and services. While time obviously isn't the only consideration for customers, it is a variable that is being overlooked and under appreciated by marketers and their companies.



Adrian Ott (photo left) deconstructs the consumer decision making process as to how time is approached, evaluated, and factors into the overall buying process. The author points out that not all time is considered equal in value. With that seemingly obvious insight, Adrian Ott presents an image of time as one of fluctuating value. At some moments, the individual places less value on time, in performing tasks that are enjoyed and where time value is less important. There are some critical moments, however, where the customer, executives, and marketers will discover the most valuable time. That is the time where a customer's attention is focused. That is also a shrinking window for most people, and as a result, a more concentrated amount of time. Since every aspect of a business has an impact on the customer, limited time and that crucial moment of focused attention, are essential considerations for every product and service offered by a company. The time and attention factors must be part of every step of the product or service development, design, manufacturing, distribution, marketing, and retailing chain.

For me, the power of the book is how Adrian C. Ott demonstrates the vital importance of understanding how customers consider time, and how they focus their attention at the critical buying moment. Companies that unlock the time value and attention code will disrupt the marketplace, and transform themselves into organizations where time is a crucial product and service delivery factor. The author provides a strong balance in the book of theory, strategies, tactics, and real world examples of time consideration as a key marketing component. This very readable and engaging book presents a valuable contribution to the marketing world, through the examination of time and focus as overlooked elements by many marketers.

Adrian Ott guides the reader through the time and technology relationship, and how customers are available around the clock in the modern world. At the same time, she goes beyond simply describing the 24-hour customer, but delves in depth into why the constantly connected customer behavior is more than simple added hours. Indeed, the author shares the concept that even with longer connection hours, the average person still feels shorter than ever of available time. Adrian Ott shows businesses how and why understanding this phenomenon correctly is essential in today's ever faster business environment.

I highly recommend the essential and must read book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy by Adrian C. Ott, to any business leaders and marketers who are serious about the critical importance of time and attention to their customers. Along with the traditional four P's of marketing, time must be considered as an added dimension to the entire marketing strategy. Companies who are able to use time considerations, to disrupt their competitors, will find themselves emerging as industry leaders.

Read the timely and fascinating book The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy by Adrian C. Ott, and put the value of time to work for your company. As the author so correctly puts it, time is now more important than money. Rethinking how a company looks at time, technology, and their integration into their customer's highly focused decision making process is the new frontier for successful companies.

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Sunday, October 10, 2010

Ecological Intelligence: The Hidden Impacts of What We Buy by Daniel Goleman - Book review





Ecological Intelligence

The Hidden Impacts of What We Buy


By: Daniel Goleman

Published: March 30, 2010
Format: Trade Paperback, 288 pages
ISBN: 978-0-385-52783-5
Publisher: Crown Business














"Every such object breaks down into the multitude of its parts and the constituent processes that made them",writes renowned thinker of different modes of intelligence Daniel Goleman, in his groundbreaking and thought provoking book Ecological Intelligence: The Hidden Impacts of What We Buy. The author describes how consumers have been provided little information on the environmental and ecological impact of not only the products they buy, but of the processes that create both the individual components of the products as well.

Daniel Goleman deconstructs the inputs into products, including both the components and the fabrication process, and describes how everyday items can have a negative impact on the environment. For the author, many of the products marketed as being environmentally friendly and green are actually dangerous to the ecological system. By breaking down the entire product into its constituent parts, along with examining how each input is manufactured, as well as how the product and components move through the entire chain, Daniel Goleman provides a holistic view of what consumers buy on a daily basis. Daniel Goleman considers that much of what consumers see as green is what he calls a mirage. The author points out, however, that consumers are taking notice of green claims that are not accurate, and are seeking out real environmentally friendly solutions.



Daniel Goleman (photo left} offers some real solutions to this confusion and lack of product environmental knowledge. On the business side, many companies are recognizing that they can and should do more to protect both the local and global environments. These progressive organizations have also discovered that environmental sustainability is also good business practice. On the consumer side, customers are taking learning into their own hands. They are exercising their massive purchasing power and buying products that are environmentally friendly, and not simply green washed as cover for unsustainable components and processes. Daniel Goleman understands that while consumers are taking steps toward ecological concerns, that there is still far to go in achieving complete sustainability. He offers the concept of ecological intelligence, which he describes as inborn in all people. He points out that this intelligence has been suppressed by cultural pressures, but is currently being reawakened in humanity. Through personal insights and sensitivity, this innate ability can be nurtured and discoveries shared through personal interaction and collaboration.

For me, the power of the book how Daniel Goleman challenges people's ideas about what it truly means to live green, and presents evidence that the human brain is wired for environmental sustainability. This inner sense is called ecological intelligence by the author. Daniel Goleman's breaking down of the component parts of products, and their hidden environmental impact, increases awareness of the entire ecosystem that is contained within every product. As consumers become more aware of those parts, and newer technologies show their true effects, a radical transparency as Daniel Goleman calls it, emerges for people. Since, as the author posits, that the human brain contains ecological intelligence, this information is processed readily and acted upon in cooperation with others. This intelligence forms a connection between the customer and the company. Any organization that takes ecological intelligence into consideration, will uncover a huge competitive advantage. With consumers flocking to truly green products, and companies that value and practice sustainability, any business that takes the path toward total environmental awareness and green products will gin ascendancy in the marketplace.

I highly recommend the seminal book Ecological Intelligence: The Hidden Impacts of What We Buy by Daniel Goleman, to anyone seeking a deeper understanding into the different areas and manifestations of human intelligence. The book is also essential reading for any politicians developing environmental policy, or a business person or civil servant searching for a philosophical background to developing a sustainable, environmentally friendly company. With the radical transparency that is empowering consumers, this book is a timely entry into the green business discussion.

Read the important book Ecological Intelligence: The Hidden Impacts of What We Buy by Daniel Goleman, and discover the liberating and empowering nature of ecological intelligence. The role of sustainable products, sold by ecologically authentic and transparent companies, is the market edge for the present and the future.

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Saturday, October 9, 2010

Robbin Phillips: Brains On Fire - Author interview



Word of mouth and brand identity marketing expert, and one of the founders of Brains on Fire, Robbin Phillips, is co-author with Greg Cordell, and Geno Church, and Spike Jones, of the advice laden and engaging book
Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements. Robbin was kind enough to tke the time to answer a few questions about the book and her ideas on marketing.

Robbin Phillips describes how marketing is not about the latest technology, but is really about connecting with people who are seeking you out to add value and meaning to their lives.

Thanks to Robbin Phillips for her time, and for her thoughtful and informative responses to the questions. They are greatly appreciated.

What was the background to writing this book Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements?

Robbin Phillips: Our mission in sharing the lessons we’ve learned is to shout this core belief from the rooftops: Word of mouth marketing is and always will be about people. With more and more ways to connect with our customers, we’re all in marketing grad school. All the shiny new technology tools in the room have made it easy to lose focus on the real opportunity in front us – celebrating, supporting and connecting with our customers and advocates in a deep emotional way. A way that inspires them to take shared ownership of our organization’s success.

Why are so many people resisting marketing messages?

Robbin Phillips: The average person gets bombarded with somewhere between a few hundred and a few thousand advertising messages per day. Messages talking AT them. We’re busy, and more distracted than ever. So we block marketing messages out. We long for deeper connections that can add value to our lives. And let’s face it, it’s hard to have a relationship or instill trust with a text message, a print ad or 30 second television spot.

People are empowered by the new technology. How has this new found strength affected causes that have meaning for people?

Robbin Phillips: The average person can now fundraise, educate, advocate and share out loud. The opportunity exists for companies and causes to unite those voices, create a collective shout and even ignite a movement around shared passions.



Robbin Phillips (photo left)

As more messages appear in both the traditional media, the Internet, and social media, how important is trust in the source?

Robbin Phillips: It’s all about trust. People don’t trust your company. People trust people. People they know. People who share their passions. People whose opinions and recommendations they have faith in. People don’t buy your company, product, or service first. They buy people first. It’s ALL about trust.

How is connecting changing marketing and branding?

Robbin Phillips: A lot of marketers are having a race. Who can get the most followers and fans? We call BS on that. Sheer numbers can’t be the end game. Engagement and real participation are what matters. You have to first understand your authentic desire to connect with your customers. You need to start from a place of giving, not receiving. Don’t think fans, think best friends. How can you best support, celebrate and love your organization’s best friends?

The book describes the concept of a movement. What is a movement and why is the idea different from a campaign?

Robbin Phillips: A movement happens when customers and employees share their passion for a business or cause and become a self perpetuating force for excitement, ideas, communication and growth. Campaigns have a beginning and an end. Movements go on as long as kindred spirits are involved.

You write that movements start with a conversation. What do you mean by that?

Robbin Phillips: Igniting a movement is hard work. It often starts inside an organization when someone catches a vision to connect on a deeper emotional level with the people who love them. Often love letters they receive are the inspiration that motivates them. Reaching out and finding a few key advocates and getting to know them better is where the real movement begins. These early nuggets of conversation - when transparent - can cause a ripple of buzz and interest. It also rewards those early advocates with insider knowledge and creates shared ownership.



Robbin Phillips, Greg Cordell, Geno Church (pictured from top to bottom in photo left)

How can the average person establish leadership and share ownership in a movement?

Robbin Phillips: No one will lead the movement if no one is expected to lead the movement. So an organization must give their leaders knowledge, support and permission to take action. (Yup, that means giving up control.) They need to find advocates with the willingness to stand up and share their lives, stories and passions with the world. So, it starts with finding those average, everyday people who are passionate enough to take action. Because you can’t lead from the sidelines.

How critical is understanding social media including Twitter, Facebook, LinkedIn, and YouTube to creating an engaging movement?

Robbin Phillips: It’s not critical. But it helps to understand ways to connect online. Technology can amplify quickly and it’s cheap. What is critical is to remember that 90 percent of all word of mouth happens offline. Don’t be so quick to think tech and dismiss the kitchen table.

How can an offline component of a movement be established to complement the online movement?

Robbin Phillips: People don’t live in a computer. You need to walk a mile in the shoes of your advocates. When you see where they live, how they use your products, why they care about them, offline and online are going to compliment.

What is the first step a company should take toward creating a movement?

Robbin Phillips: The first step is to learn if the opportunity exists for a community of passionate people to unite, rally behind and birth a meaningful movement that adds value to people’s lives. Are your customers or advocates reaching out to your or others? IF so, that is really good first sign.

What is next for Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones?

Robbin Phillips: We all hope to continue to learn and grow in our understanding of conversations and social motivations. We also hope this book sparks a two-way dialogue with others who are doing the same. So if anyone reading this post has anything at all to ask/share with us you can find us at brainsonfire.com/blog. We’re listening.

Robbin Phillips
robbin@brainsonfire.com
864.672.9628

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My book review of Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements by Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones.

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Brains On Fire by Robbin Phillips, Greg Cordell, Geno Church & Spike Jones - Book review




Brains on Fire

Igniting Powerful, Sustainable, Word of Mouth Movements


By: Robbin Phillips, Greg Cordell, Geno Church, Spike Jones

Published: August 31, 2010
Format: Hardcover, 184 pages
ISBN-10: 0470614188
ISBN-13: 978-0470614181
Publisher: John Wiley & Sons











"People don't buy your company, product, or service first, they buy people first", write word of mouth and identity marketing experts at Brains on Fire, Robbin Phillips, Greg Cordell, and Geno Church, and Spike Jones, in their advice laden and engaging book
Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements. The authors describe how marketing is not about the latest technology, but is really about connecting with people who are seeking you out to add value and meaning to their lives.

Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones move beyond the focus on technology and on the various social media tools. Instead, they place their emphasis on what truly matters in marketing. The gaze their focus on people. The authors understand that people resist marketing, marketers, and their marketing messages. With so many marketers talking at the prospective customers, the authors recommend talking with and engaging people to inspire their passion. The old school marketing idea of a controlled message is no longer effective, as the customer is empowered and energized to seize the message in any way they choose. Control is futile in the modern social media world of building and maintaining relationships and personal engagement. The marketing landscape has changed, but people still prefer to buy from people who they know, like, and trust.



Robbin Phillips, Greg Cordell, Geno Church (pictured from top to bottom in photo left) and Spike Jones present the concept of starting a movement. For the authors, a movement energize a group of people around a product, service, or cause. The overarching characteristic of a movement is the passion of the participants. For a movement to be sustainable, and not short lived, the impassioned supporters of the cause or company share their ideals with one another through online and offline interaction. This viral word of mouth carries from person to person, having been ignited through the shared empowerment and passion. The authors share ten critical lessons for going beyond the mere creation of a movement, but for the ignition of a self-perpetuating movement. Through their ten points, the authors show how ownership of a movement evolves, creates a unique identity, and empowers its advocates. Once a movement begins, the force it generates is almost unstoppable.

For me, the power of the book is how Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones develop the concept of the impassioned movement as a powerful offshoot of word of mouth marketing. The emphasis of the book is squarely on the relationships between people, based on trust. Without trust, no movement or any other human interaction is going to be a success. This basic premise is the driver for the entire movement phenomenon. The authors back up their theoretical framework with ten practical step by step lessons that any marketer can utilize to ignite a movement. Of course, igniting a successful movement, write the authors, is far more complex and personal than merely creating a movement. The former is authentic, while the latter will be viewed as contrived. The authors point to successful movements in both the social sphere and in the business sector, demonstrating that their concepts work in real world situations. The change in emphasis, away from marketing and a tools focus, to one of people is engaging and empowering for everyone.

I highly recommend the humanization of marketing guide book Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements by Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones, to anyone seeking an alternative to the technology-centric marketing approaches, that are often presented as the only option, for moving away from the failed controlled message model. Instead, the authors present a third option. Their concept is one of igniting a word of mouth based movement composed of impassioned and engaged kindred spirits. The interaction and sharing between people can take place in any format, both online and in the brick and mortar world.

Read the book that considers marketing to be really about connecting and trust between people, Brains on Fire: Igniting Powerful, Sustainable, Word of Mouth Movements by Robbin Phillips, Greg Cordell, Geno Church, and Spike Jones, and change your outlook on marketing forever. Indeed, you may never again consider yourself a marketer, but instead a connector and facilitator of ignited movements.

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Friday, October 8, 2010

Frank Islam, George Munoz & Ed Crego: Renewing the American Dream - Author interview



Societal and economic thinkers Frank Islam, George Muñoz, and Ed Crego, were kind enough to take the time to answer a few questions about their provocative and visionary book Renewing the American Dream: A Citizens Guide.

Frank Islam, George Muñoz, and Ed Cregochallenge the standard ways of thinking about government, business, the economy, and the role of the nation's citizens, and describe their revolutionary concept of problem solving that envisions America as a shared venture enterprise.

Thanks to Frank Islam, George Muñoz, and Ed Crego for their time, and for their very comprehensive and informative responses to the questions. They are greatly appreciated.

What was the background to writing this book, Renewing the American Dream: A Citizens Guide?

Frank Islam, George Munoz and Ed Crego: After the financial meltdown of 2008, we expected political and business leaders to pull together much the same way they had after 9/11. Instead, what we saw was almost completely partisan politics inside the beltway and inertia in the business community outside of it. This lack of leadership was concerning because of the country’s condition. The country has been in decline for more than a decade and the American dream is at risk.

We wrote Renewing the American Dream out of a sense of responsibility to call citizens’ attention to this crisis because we believe that many do not grasp the gravity of the current situation. Our purpose is to enlist citizen participation to reverse the decline. As citizens who have lived the American Dream we not only have the right, but the responsibility, to speak out and make our voices heard on the critical need to renew America and the American Dream.

What caused you to describe the Dream as “at risk”?

Frank Islam, George Munoz and Ed Crego: America can deliver on the Dream only if it stays competitive on a global basis. There is clear evidence that our economic standing in the world is at risk. As our leadership slips so does the American Dream.

Survey after survey discloses that the American people feel that the future is slipping through their hands and for the first time parents are saying that their children may not be better off than they are.

This is happening because America as a nation has been losing its competitive advantage. That advantage has been driven by a strong manufacturing sector, an ample supply of jobs, a vibrant middle class, and innovation, entrepreneurship, and successful small businesses that have been the job generating engine accounting for well more than one-half of the nation’s GDP. All this forms the platform for delivering on the American Dream. But as other countries become more competitive, our platform has been deteriorating and in need of renewal.

Internationally, the competition is getting tougher than it’s ever been before. We are running into a new BRIC wall. That’s Brazil-Russia-India-China. Especially in Brazil, India and China, GDP and the earning power of citizens is growing quickly.



Frank Islam (photo left)

Americans are disillusioned with what they see as a country going downhill? Why are people so worried about the present and the future?

Frank Islam, George Munoz and Ed Crego: While the country may be going downhill a little, the status of the middle class is in serious decline. More Americans are slipping into poverty. The numbers that just came out place 1 in 7 of our citizens in that category. Those who aren’t in poverty have seen their net worth plunge over the past two years as the values of their homes fall precipitously and holdings in the stock market lose value. In the ten years from 2000-2009, the median income and net worth decline for the first time since those things have been measured.

People are worried because they are experiencing this shift on a personal basis. Right now, even if GDP growth returns to normal and there is a real recovery, there is no guarantee that will translate into enhanced IEW – Individual Economic Well-Being. IEW is what gives each of us comfort. IEW is not a concept that has yet gotten into the vocabulary or become a front and center issue for our elected officials and public policy.

But our elected officials are not fighting for us. In our book, we talk about how our political process has become dysfunctional, leading to partisan gridlock rather than united fronts against our enemies and against the decline of the American Dream.



George Muñoz (photo left)

Is the situation hopeless or can the American Dream be brought back to life?

Frank Islam, George Munoz and Ed Crego: The situation is far from hopeless the Dream is not dead, yet. But for many Americans, as our earlier answers indicate, it may be on life support

We are in a pivotal period. This past decade has been one of decline for the country and our citizens. This next decade will be the decisive one. The decisions we make and the actions that we take in it will determine the future and the fate of America and the American Dream.

There are two ingredients that we think are central to renewing the dream: one is creating a competitive advantage for the nation and its citizens, the second is bringing organizations and citizens together in shared venture to work on Enterprise USA.

How can competitive advantage be restored in an increasingly global economy?

Frank Islam, George Munoz and Ed Crego: It has to start with by creating a plan for competitive advantage for the nation. America is our “enterprise”. This country is the citizens’ business. We must treat it as such.

In the book we set out a framework for reestablishing our competitive advantage. We call for a nonpartisan Commission to conduct a thorough and in-depth strategic analysis of the current situation and develop a comprehensive strategic plan for the country. That plan should spell out the vision, goals, and strategies for consideration by the President and Congress.

No major business ever developed a competitive advantage without putting a plan into place. It is absurd to think that in a world where our new competitors are engaging in and will be doing much more centrally planned capitalism that our old “laissez faire” approach will allow us to prevail.

What is the American Dream anyway, and how can it be assessed for what works and what needs improvement?

Frank Islam, George Munoz and Ed Crego: We each have our own definition of the American Dream. The definition that we developed for the book after talking with a number of citizens from all walks of life is simple: It is the opportunity to be the bet that you can be and to be rewarded and recognized for accomplishing that. We should stress that it’s an “opportunity” not a “guarantee”.

To amplify a little more, the American Dream is the chance to be successful and to achieve economic security. The fundamental elements of the dream are getting educated and working hard in order to have a good job that pays decent wages, provides adequate benefits, puts food on the table, a roof over one’s head, and allows for retirement with dignity.

A core precept of the dream is that doing this will ensure that America will continue to grow and prosper and that each generation will have a better life than the previous one. We believe that two other aspects of the Dream are: a concern for the common good, and pride in the nation and its standing in the world.

How do you assess the Dream and what needs improvement? If those are the elements, break the definition apart and give a grade to each. A few decades ago, we probably would have had “ A’s” in almost all areas. We’ll leave it to your readers to assign their own grades for where we are today. We’d be willing to bet, however, that their report card will not be one that you’d like to take home to your parents.



Ed Crego (photo left)

What are some of the factors that must be considered to revive the Dream and who are the agents of that renewal?

Frank Islam, George Munoz and Ed Crego: Establishing a competitive advantage plan for the country is only the beginning.

Other things that need to be done to ensure that we achieve a competitive advantage and are successful in renewing the American Dream include: redirecting government; redirecting business; renewing leaders, organizations and individuals; implementing a renewal process which stresses proper preparation, involvement and execution; implementing policies and programs that create jobs, rejuvenate the middle class, reignite the manufacturing sector, unleash the potential of small business and entrepreneurs, ensure a vital news media and advance America’s role in the world.

The agents of renewal are what we call in the book twenty-first century citizens. Twenty-first century citizens play in the 3-I league. They are: Independent – they don’t toe the party line they think for themselves. Informed – they do their homework and the come to their own conclusions. Involved – they decide what issues matter the most to them and they roll up their sleeves and go to work on them.

Twenty-first century citizens know that sitting on the sideline is not an option. They get engaged at the individual, organization, civic, social and leadership levels to make a difference. In our book we describe things and approaches that we can take as citizens to further each form of engagement.

How can Americans in the government, the private sector, and nonprofit organizations work together to rebuild America?

Frank Islam, George Munoz and Ed Crego: As citizens we can do this by participating in a shared venture that we call “Enterprise USA”. We believe that the enterprise concept is the centerpiece for revitalizing all aspects of America and the American Dream.

We have become a divided nation. Our political system is increasingly bipolar and dysfunctional The Enterprise concept provides an alternative paradigm for reframing the issue in a manner that brings us together for problem-solving and to act in our common interest as citizens.

There are two essential elements to the Enterprise concept. First, is to see the U. S. as an enterprise – the nation is the citizens’ business. Second, is to emphasize it is a “shared venture” – it’s not just government’s or business’ responsibility to renew America. It is the responsibility of all of our organizations and of us as 21st century citizens working together.

The problem today is that we have too many people in leadership positions framing issues incorrectly and in “either or” terms. The truth is it’s not “either or” -- its “both” “and.”

If you study the way America was built it was not in spite of government and business. It’s been because of government and business and religious organizations and non profits and community-based organizations and the collective and individual actions of citizens. That’s what our history and performance as a nation clearly tells us. Those who would say otherwise are either ignorant of the facts or motivated by other agendas.

What is the first step to building what you call in the book Enterprise USA?

Frank Islam, George Munoz and Ed Crego: The first step is recognition. With recognition, comes the understanding that there is the need for change. That change begins with us as citizens. We all need to become change agents.

If we realize that citizenship cannot be a spectator sport and get onto the playing field America and the American Dream wins. No one can defeat us.

What is next for Frank Islam, George Munoz and Ed Crego?

Frank Islam, George Munoz and Ed Crego: As we said in our book, the real work begins when the writing ends. We’re out doing the real work now.

We’re spreading the message, engaging in dialogue, and getting involved with other citizens in working on issues that matter to us. We’re doing that now and plan to continue to do so in the future in order to make whatever contribution we can to creating Enterprise USA and renewing the American Dream.

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My book review of Renewing the American Dream: A Citizens Guide by Frank Islam, George Muñoz, and Ed Crego

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