Month: November 2013

Many marketers talk about
targeting
the twenty-something sweet spot.

That may be the AVERAGE sweet spot
but it might not be YOUR sweet spot.

Elizabeth Arden’s sweet spot
is the older woman.

Scott Beattie,
CEO of Elizabeth Arden,
shares

“Frankly,
if you look around the world,
the most attractive demographic
to sell to
is that woman between 45 and 70.
They had control of a disproportionate
amount of the world’s disposable income.
And, in fact,
they have a lot more wealth
than many of the younger generations.
And they’re living longer.
They care more about their appearance.
They’re investing more in things
like anti-aging and make-up
that brings anti-aging kind
of characteristics.”

“They’re much more in tune
with understanding the product.
They’re less in tune
to celebrity endorsement
or fancy ad campaigns.
If they find a product that really works
and they believe in,
they’re much more loyal customers
as well.
And that would apply
around the world,
not just in North America.”

Don’t forget about the older woman
as a possible target market.

Every great project manager
has a solid understanding
of critical path.
She plots out the steps
of a project
and determines
the order the steps
must be taken in.

Unfortunately,
not everyone in the organization
realizes how important
the critical path is.

Seth Godin
has a great method
for showing people visually
the importance.

“We did some critical path analysis
and pretty quickly identified
the groups of people
that others would be waiting on
as each stage of the project developed.
It’s a relay race,
and right now,
these four people are carrying the baton.

I went out and got some buttons
–green and red.
The deal was simple:
If you were on the critical path,
you wore a green button.
Everyone else wore red.
When a red button meets a green button,
the simple question is asked,
“how can I help?”
The president will get coffee
for the illustrator
if it saves the illustrator
three minutes.
In other words,
the red button people
never (ever) get to pull rank
or interrupt a green button person.
Not if you care about critical path,
not if you care about shipping.”

The critical path incorporates
the word ‘critical’ for a reason.
Communicate how important it is.

Marc Gordon,
in the November/December edition
of
The Costco Connection,
shares
this tip for working at home

“Have a designated work area.
Forget the kitchen table
– have a room with a door
to call your own.
Train your family to know
you are unavailable
when the door is closed.”

I share a home
with one other person, an adult,
and he understands
that when I’m working,
I’m working,
but I still find the dedicated space helpful.

Why?

Because when I sit down
in this office,
I know it is time to work.
I switch to business mode.

Have a dedicated work space.

No one does everything right
when starting up a company/brand.

Learning how to handle
failure is a big part of the success
of any entrepreneur.

In Carmine Gallo’s newsletter,
Scott Adams,
creator of Dilbert,
shares
“Success is entirely accessible,
even if you happen to be a huge screwup
95 percent of the time.”

“If you have a choice,
success is better than failure.”
“But life is messy
and things don’t always work.
It’s better to pick tasks and challenges,
that no matter what happens,
you’re going to come out
with some skills you didn’t have.
Maybe you’ll meet some people
or you’ve acquired resources.
I try to make sure
all my failures have that quality
so I can at least pick their pocket
before they die.”

Try to ensure
that
even when you fail,
you gain.

Rieva Lesonsky
shares

“Are you a worrier?
If you’re a woman business owner,
the answer is likely “yes,”
according to a recent report
and white paper from CDR Assessment Group.
The study, which focused on executives
and why women have trouble
breaking the glass ceiling,
found that 65 percent of women leaders
tend to be “worriers” under stress.
In contrast, stressed out male leaders
are more likely to fall into categories
such as “egotists,” “rule breakers”
and “upstagers.””

Excessive worrying costs
entrepreneurs money.
How?
Because they miss out on opportunities.
They don’t make decisions
quickly enough.

I’m partnered with a worrier.
He (yes, he – women aren’t the only worriers)
worries about everything
and this prevents him from making decisions.
I’m the opposite.
I’ll try something and see if it works.
I push him to make decisions.
He pushes me to think about my decisions.
We balance each other.

Worrying DOES have a cost.
Learn how to handle it.