By k | May 31, 2013 - 6:00 am - Posted in Marketing

Mobile advertising is trendy
but is it profitable?

According to
Deloitte’s annual
Technology, Media
& Telecommunications Predictions report

“Each tablet generated
about $7.00
in display ad revenue
per year.
Not as much as with a PC,
but decent.
However,
tiny smartphone screens
produce
only $0.60
in display ad revenue
per year.
The monetization problem
hasn’t been licked yet.”

Unless you have a specific reason
to target mobile advertising
or money to burn,
think seriously about
whether or not you wish
to advertise on smartphones.

By k | May 30, 2013 - 6:00 am - Posted in Marketing

I’ve heard from many sources
that the PC is dead.
Smart phones and tablets
have replaced PCs.

Not according to
Deloitte’s annual
Technology, Media
& Telecommunications Predictions report.

“In 2013,
more than 80 per cent of all web traffic
still comes from computers.

Young people aren’t abandoning
the PC
in the same way
that they stopped reading newspapers
or paying for CDs.

Only 8 per cent
of 18- to 24-year olds
prefer a tablet to a PC.

By comparison,
40 per cent of people
over age 65
prefer a tablet to a PC.”

Don’t assume a product is dead
just because it is not longer trendy.

By k | May 29, 2013 - 6:00 am - Posted in New Business Development

A common way
for a small company
to get bigger
is to merge with another small company.

This is common
but not easy.
According to a recent
Harvard Business Review study,
between 70 and 90 percent
of mergers fail.

Glen LeBlanc
has twice helped companies merge.
In May/June’s CMA Magazine,
he shares

“One of the biggest challenges
was merging business cultures.
Financially, it’s easy finding reasons
to bring companies together.
But can you bring
customers and employees with you
to the end of the journey.

You have to develop a common culture
that everyone signs up for,
and get people to see
that the future can be brighter
by showing progress
in your new strategy.”

Consider cultures
when deciding
whether or not to merge.

By k | May 28, 2013 - 6:00 am - Posted in New Business Development

As we move into the summer months,
some of us are considering
hiring high school students to help
with projects.

The key to hiring students is…
assume they know absolutely nothing.
This is great
because many of them
don’t have bad work habits
(they are often also
full of exciting new ideas, insights and energy)
but it can also be challenging
because we need to guide them
in every aspect of the job.

As recruiter
Pamela Kleibrink Thompson
shares in
May/June’s
The Costco Connection

“Define all aspects of the job,
including punctuality, scheduling
and how to work with customers.

Make sure the employees also know
what you don’t want them
to do on the job,
such as texting,
talking on the phone and
chatting with friends who stop by.

Make expectations, requirements
and milestones clear -
and be consistent with
rewards or consequences.”

Factor in extra management time
when hiring high school students.

By k | May 27, 2013 - 6:00 am - Posted in New Business Development

One of my past managers
was so moody,
we had a signal
to tell other people
what type of mood
he was in.

If the blue flag was up,
he was in a bad mood.
If the blue flag was down,
he was in a good mood.

Working for him was extremely stressful.
As soon as I located another job,
I left.

As Karen Wright,
author of
The Complete Executive,
shares in
the May/June Costco Connection

“You’re up one day
and down the next.
No problem -
the people who work for you
can just go with the flow, right?
Wrong.”

“Your people need to know
the difference between a mood swing
and a major business issue.
Help them out
by staying on an even keel
at least 90 per cent
of the time.”

Manage your own mood swings
so others won’t have to.

By k | May 26, 2013 - 6:00 am - Posted in Sales

A survey in a professional magazine
had the headline
11% Of People Don’t Know.

When I looked at the survey results,
I discovered
this figure consisted of
people who didn’t know
AND
people who didn’t respond
to the question.

I see this often in sales.
A saleswoman will ask
a question.

If she receives no response,
she assumes
the prospect doesn’t know
the response
when the reason
could be
the prospect doesn’t care enough
to supply an answer.

This is dangerous
because
when a prospect doesn’t know,
we engage them
with information
and
when a prospect doesn’t care,
we engage them
with emotion.

Know why your prospect
doesn’t respond.

By k | May 25, 2013 - 6:00 am - Posted in New Business Development

When asked,
in the Spring 2013
UofT Magazine,
what advice she’d give
to students wanting to make films,
Sarah Polley replied

“The most important thing is
to keep working.
It’s so easy
to make short films now
with very little budget.
There is no reason
not to start making films
instead of just thinking about them.”

Of course,
Sarah Polley’s not talking about
making special effects heavy Hollywood blockbusters.
She’s talking about making small starter films,
films made with phones and handheld devices,
films that might never be seen.

The point isn’t to make a great film.
The point is to move
from thinking to doing,
to START.

By k | May 24, 2013 - 6:00 am - Posted in New Business Development

I’ve been presented
with another great
writing (business building) opportunity.
This opportunity requires
another month of crazy writing hours
and it might not pay off for years,
if at all.

This project is challenging.
It is much easier
to spend my day
answering email
than it is to work on this project
but answering email is short-term thinking.

As Mark McGuinness
shares

“Those who get swept off track
do so
because they are thinking short-term:

The phone is ringing now,
so I need to answer it.
The email has just arrived,
I need to get rid of it ASAP.
I’ll just get this one out of the way,
it shouldn’t take long…

When you think like this,
the pressures of the moment
will always feel more urgent
than settling down to wrestle
with something truly important
(and difficult).”

Do the truly important work first
even if it is more difficult.

By k | May 23, 2013 - 6:00 am - Posted in New Business Development

Right now,
each one of your competitors
is doing something better than you.
It could be a small something.
It could be a different something
for each competitor.
But they are excelling at something.

As Mike Michalowicz
shares
(this entire post
is a must-read for innovators)

“Sam Walton once said,
“I believe I am Kmart’s best customer.
I have visited almost every
one of their stores.”

He constantly evaluated other retailers
and copied what they did best.
Among the many innovations
he extracted from his competition
was the centralization
of the checkout process.

Instead of having a checkout
in each department of the store,
he centralized everything
to one checkout line
at the front of the store.

Walmart leaped forward
and set a new standard
that we see everywhere today.”

Savvy business owners
learn from their competitors.

By k | May 22, 2013 - 6:00 am - Posted in New Business Development

Building a brand,
a business,
a career
is difficult.
There are times
when we’ll want to quit
and if we give ourselves a choice,
we WILL quit.

Kimberly of
The Band Perry
shares

“When it came to college,
it was kind of like role reversal.
Being the oldest,
it was my decision to make
whether to pursue music
or have a fallback plan.
In discussing that with Mom and Dad,
their only comment was always very consistently,
‘If you have a fallback plan,
you are going to fall back on it
at some point.
So we need to remove Option B
and go full-throttle toward Option A.’
I don’t think we’d be here
had we not done that.”

If quitting is an option,
we WILL quit.