Archive for January, 2010

Trade Show Selling

Thursday, January 28, 2010 by:David Zahn
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It is the dream of almost every executive purchasing a booth at a trade show. The doors to the exhibition hall open and prospects start streaming in with checkbooks in hand, questions about products bubbling from their lips, and their excitement and desire to make a purchase at the trade show practically visible from two aisles away. For most companies that struggle to source prospects, the idea of having hundreds or even thousands of self-identified prospects under one roof and eager to actively engage with salespeople is a fantasy that can only occur at a trade show. But converting prospects into customers at a trade show is not automatic and far too many companies fail to take advantage of the opportunity presented to them at trade shows.
Ahead of Time
The successes associated with trade show selling begin well before the booth is set up and the products are displayed or signage is hung. Just a partial list of the things that need to be considered:
1. What trade show to attend as an exhibitor. While trade shows attract customers, if the attendees are not the right customers for a company’s products or services; the trade show is not likely to be a fertile ground for future sales. Trade shows are marketed to and appeal to different buyers. Some trade shows are geared towards consumers directly and others are positioned to appeal to business customers. Failure to consider the target attendee of the trade show can lead to frustration and expenses to participate in a non-productive trade show.
2. Prior to a trade show, it is strongly suggested that the exhibiting company contact key prospects attending the show and arrange for meetings, either at the booth or at other meeting places associated with the trade show (suites, restaurants, bars, etc.). Relying on happenstance to “run into each other” at the show often causes disappointment when people’s time, availability, and ability to meet each other does not allow for a meeting to occur.
3. If the booth is to be shared or split between two companies; or if one company’s products are to be displayed in another company’s booth it is essential that the agreement between how the two companies will represent each other’s products be spelled out. In many instances one company’s product may integrate another company’s product within a proposed solution. Or, there may be some cooperative agreement between companies that share an alliance to display each other’s products in each of their booths. It is critical that booth personnel at each booth be knowledgeable on the other company’s products, agree to display, identify, or refer to the other company’s products as specified according to a prior agreement.
4. Determine who will be responsible for being in the booth. Depending on the likely customers and prospects attending the trade show, it may be advisable to staff the booth with marketing personnel to talk about product features, market research, or other marketing issues. In other situations having engineers available to speak to product specifications, and of course, having sales people and senior executives in the booth is always appropriate. In terms of scheduling people in the booth, most trade shows are 8 hours long per day or even longer and therefore it is often appropriate to have at least two shifts of booth personnel so that the level of enthusiasm and excitement can be maintained throughout a shift. Additionally, that also permits company employees not currently assigned to be in the booth to visit other booths and glean insights about competitors, interact with other trade show attendees, and attend meetings, conferences, presentations, etc.
5. Give thought to what the booth will include (graphics, products available, marketing materials, etc.).
6. Choose a booth location wisely. Look to see where entrances and exits are, where competitors will be situated, where food will be served or lavatories are located. Consider traffic flow (middle of the show floor, end of an aisle, in a corner, etc.), where are the companies that are likely to attract large numbers of people congregating and which areas of the show floor will be less heavily trafficked.
7. Lastly and perhaps most importantly is to ensure that there is a strategy to attending the trade show. What is the key message the company wishes to communicate? What is the objective of attending the trade show? How will success be measured?
Of course, planning is extremely important and must be given proper consideration in order to succeed at a trade show. However, what most people will see and what will be most memorable is what happens while at the show.
At The Show
The interaction once at the show is what most attendees will remember about a company if done well, and what they will never even notice if poorly executed.
1. The way the booth is designed has a tremendous influence on how successful a company’s performance will be at the trade show. An ideal booth should be inviting and open. Many smaller booths fail to take advantage of the trade show selling opportunity by placing a table at the edge of the booth closest to where people walk, and then sitting behind products displayed on the table. In essence, they put up a barrier between the seller and the buyer and do what they can to keep the buyer from “penetrating” into the booth. The result is often a buyer that browses quickly, but does not actively engage with the seller.
2. Use graphics advantageously. While some trade shows have restrictions on how high signs can be placed, be sure that the identity of the company in the booth is clearly seen and identified from as far away as possible. Additionally, be certain that graphics enhance the message the company intends to communicate. Simple product photos do not usually help the buyer envision how the product will be used as much as a photo demonstrating the product in action. If the product has multiple uses or can be used in multiple environments, highlight that through different graphics.
3. Graphics must be easily and quickly seen and interpreted. Far too many trade show booths hang a wall graphic on the back of a booth and then sit directly in front of it in a chair that blocks the view or obstructs either the name of the company, a photo, or other important information about the product. Be sure that the “sight lines” of the graphic are not blocked.
4. If a booth is placed on a corner of an aisle, it is best to allow access to the booth from all directions of how traffic will flow. Having walls up from one direction may lead to people approaching from one of the other directions to miss that booth as they quickly scan ahead to see where they wish to visit next.
5. Even in booths that have an open floor plan and allow prospects to approach easily from all directions, it is common to see booth personnel buried deep into the booth and standing near product displays either handling the products or absent-mindedly fiddling with demonstration units. It is far better to have booth personnel talking and initiating conversation on the perimeter of the booth and standing where they can interact with prospects as they approach the booth. By being friendly and taking note of what people are doing or saying as they approach the booth, the chances of having someone step into the booth increase.
6. Once someone enters the booth, it is a sales opportunity. Qualify booth attendees by following a simple approach to identifying needs, scoping out appropriate solutions, determining criteria used to make decisions, and responding to questions to steer the prospect toward the company’s offerings.
7. Having said that, also be aware that a booth is not a place to engage in an extended conversation with someone who is merely information seeking or may not be a true buyer at all. Provide information to engage the person and then appropriately suggest a follow up meeting or call when a more detailed discussion can occur. Confirm that the person is a legitimate lead before getting stuck talking about products or the company and missing a chance to talk to a prospect representing a more qualified business opportunity who passes by the booth because it is too busy (though not productively).
8. Unless it is to ask a quick question or clarify a point, booth personnel should not engage in social conversations with each other or turn their back to the trade show attendees to have a chat between themselves. Booth personnel should focus on engaging with customers and prospects. If the booth is “dead” and there is no one entering the booth as they walk by, then it is especially important for booth personnel to become more actively involved in reaching out to engage trade show attendees in discussions.
9. Many companies will hire celebrities to show up at their booth for autograph signings or photo opportunities in an effort to bring people into the booth area. If this is a strategy, be certain that the celebrity chosen is consistent with the image that the company wishes to portray to attendees. Also, while attendees may flock to see the famous person or interact with the actress, athlete, or musician – that does not always translate into sales or even interest in the products within the booth. Be certain that there is a synergy that makes sense to pursue before spending money to have a celebrity.
10. Above all other hints, the appropriateness of having demonstration units, opportunities for trade show attendees to interact with products (handle them, “try them out,” see how they work under different conditions, etc.) goes much further than simply referring to capabilities or pointing to a brochure and trying to describe how a product works, how durable it is, how simple or intuitive it is, etc.
Of course, there is more to do once the show has ended. Far too often, the potential sale that was initiated at a trade show does not happen because of the lack of follow up post trade show.
Post Trade Show
The follow up after a trade show is equally as important as the work done up to that point. While at the trade show, the following likely occurred:
• Badges were scanned
• Business cards were exchanged
• Notes were taken about a prospect with the intent to follow up.

Now it is incumbent upon the company to do the following:
1. Qualify the leads – determine how likely the prospect is to make a purchase, identify what their interest level in any particular product is, if there is a timing associated with when the purchase will occur.
2. Distribute the leads to the appropriate sales person by either geography, industry verticals, or sales channel
3. Do not allow too much time to pass. Contacting within a month of the trade show should be the standard. Anything longer than that is going to lead to loss of interest or the opportunity for other competitors to secure a deal with the trade show attendees before the company even gets to responding.
4. Sending materials to a prospect (brochure, corporate capabilities presentation, product data sheets, etc.) is not sufficient as follow up. While follow up may include those things, it is greater than that. Follow up must be more tailored and customized and should be an extension of the conversations started in the booth.
Trade shows are excellent opportunities for companies to sell to prospects and can be rather cost-effective. However, if not properly managed, trade show selling opportunities can lead to large expenses with little return. Looking at trade shows as an easy sales conversion activity is possible, but only if approached with care and consideration and as a managed process.

Customer Is King

Tuesday, January 26, 2010 by:David Zahn
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If there is one truth that has been proven over and over again in retailing, it is that the customer is king. Suppliers and retailers alike, worship at the altar of the ultimate decision-maker in the hopes of securing a purchase. If that is so evident and obvious – then why won’t suppliers and retailers collaborate better with each other to ensure that the person shopping for a product is able to locate it and purchase it with confidence content that it will fulfill the role or complete the task it is intended to provide?
The Shopper
While mass production has a proud tradition going back to Eli Whitney and his standardization or interchangeability of parts; the mistake that far too many retailers and suppliers make is to assume that shoppers are akin to machined parts. The truth is that not only are shoppers different from each other, the same shopper’s behavior will vary widely and be influenced by very different concerns on consecutive shopping trips. Yet, far too often, the supplier and the retailer will attempt to market to the shopper in exactly the same way and expect a consistent response both across different shoppers and from the same shopper at different times.
The business reality is that there are likely multiple shopper types that are frequenting your stores and buying your products. The other reality is that you may not know what those types are and why they chose to purchase from you (or perhaps more importantly, why they chose NOT to buy with you and purchased with a competitor). The suppliers do a tremendous amount of consumer research in designing and developing new products, marketing campaigns, and identifying trends related to performance, convenience, or other features. As a retailer, what research are you collecting to identify (some examples):
1. Shopper Types
a. Gender/Age/Demographics, etc.
b. Psychographics – the motivations for why the shopper is even in the market, attitudes, values, etc.
c. Product interest
d. Product Knowledge levels
e. Buying for self vs. buying for other
2. Purchase Occasions
a. Birthday or special occasion
b. Replacement purchase
c. Stock up for future use
d. Convenience/Quick fill in for immediate use
e. Use
3. Purchase Variables
a. Budget
b. Brand name of product
c. Expertise of store personnel in recommending appropriate product
d. Ambience or store environment
Failure to recognize the differences between and among shoppers, shopping occasions, and influencing variables that impact whether the customer chooses to make a purchase is going to lead to the business equivalent of the children’s party game; “Pin the tail on the Donkey” where a blindfolded person attempts to place the tail on an exact spot without any benefit of context or clue.
Shopper Experience
Every retailer has heard of the importance of shopping their own store as if they were a customer. The lessons one can learn are illuminating as it relates to learning about one’s business from the perspective on the other side of the counter. But, few independent retailers actually know what to look for and how to do it.
Pre-Store Visit
1. What shopper type/shopper target is most likely to respond favorably to advertisements?
2. Does the website appeal equally to all shopper targets or does it presume that one kind of shopper exists?
3. How does the store attract the desired shopper target(s) as s/he approaches the store (signage, illumination, ability to see inside from the outside, what is visible from the parking lot, etc.?
Inside The Store
1. Is the shopper greeted upon entry?
2. Is the store set up in a way that all product categories are easily located upon entry?
3. What signage exists to direct, explain product benefits, educate, etc.?
4. What training do store personnel have to:
a. Help guide shoppers to appropriate product choices
b. Suggest complementary products
c. Inform or educate shoppers on proper product usage
5. Does the store encourage handling of products by having samples or demos out?
6. Are products merchandised in a way that helps the shopper discern?
a. Good/better best
b. Pricing ladders
c. Performance differences
7. Are categories cross-merchandised with other products likely to be purchased together?
The store often merchandises products in a way that makes it easier for store personnel to; keep track of inventory, re-order, stock product, and otherwise suit their needs operationally or logistically. It is the progressive store that correctly assumes that the store should be designed from the shopper’s perspective. The more shopper-centric the store can be so that the shopper is able to make a purchase decision in a way that is aligned with how they wish to purchase; the more successful that the store will be and the more return visits the store will receive.
Returning to the shopper target discussion, the point was made about how different shoppers, or even the same shopper, may shop very differently on different occasions. Knowing that, the store would be well served to create “Store within a store” areas that can serve the disparate needs of the shopper on each of the different shopping occasions. Practically speaking, that may mean:
1. Putting hats with gloves/Dressings near salads/lemon near fish counter
2. Placing bottled water cases, snacks, flashlights, etc. next to signage suggesting that the hunter consider adding that to their purchase before heading out.
It may also mean dividing the store into sections that appeal to different shoppers and even replicating some products, but merchandising them differently based on use and need.

Through The Looking Glass
Our industry is in a state of flux and it will continue for the foreseeable future. Unless we are able to actually see ourselves as our customers see us and do the work necessary to identify which shoppers we want to appeal to, and what it takes for them to feel comfortable in our stores; we will be destined to smelling our own gun powder and recycling the same efforts and getting the same results. The retail world is moving too quickly to remain standing still. The eagles will soar high, and the turkeys will wind up being served up on a platter to those that recognize the importance of differentiation and evolving to meet a changing shopper’s needs.

Business, 20/20 Hindsight and NBC

Thursday, January 14, 2010 by:David Zahn
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There has been much written, discussed, and joked about the recent debacle occurring at NBC’s late night programming. For those not keeping track, the prized jewel of late night television for half of a century has been the Tonight Show property. The most recent steward of that show is Conan O’Brien,who inherited it from Jay Leno, who was hand picked by Johnny Carson, who had assumed command from Jack Paar, who had it passed on to him from Steve Allen. As iconic as it is; and as much of a legacy as it has; NBC was faced with a series of business decisions a few years back about what to do to ensure relevance of the product in the coming years.

Brief History

It was not all that long ago that Johnny Carson was still sitting behind the desk of the Tonight Show and easily engaging guests, Ed McMahon, and members of the band and studio audience each night to entertain millions of people watching on TV. As it became clear that he wanted to step aside and move away from the rigors of hosting a nightly show, he and NBC tried a series of guest hosts. Joan Rivers, David Letterman, and Jay Leno emerged as the leading candidates to assume the mantle of the Tonight Show host.

In effect, NBC had strategically approached succession planning and provided a series of opportunities for each of the candidates to demonstrate their ability to do the job. As a result of the decisions made and the assessments given at that time, it was determined that Joan Rivers was eliminated from further consideration. While the move to eliminate her was met with some anger and harsh words (mostly from Ms. Rivers) – it proved to be a good decision when Rivers was unable to sustain her own talk show that was attempted shortly after the decision to pass over her for the Tonight Show. Leno was ultimately chosen and that subsequently led to the competition with Letterman for ratings with Letterman when Letterman moved to CBS.

As a result of Letterman being initially more successful than Leno at the 11:30pm EST time slot; NBC decided to again consider some succession planning opportunities and provided Conan O’Brien with a promise that he would ascend to the Tonight Show desk to replace Jay Leno at a future date. Fully expecting that Jay Leno would begin to slow down and lose relevance with the bulk of TV watching audiences as he approached his 60′s, NBC believed that the younger O’Brien would be better suited to secure the demographics and audience size that Letterman seemed to be winning. When the deal was made, few could have projected that Leno would actually not only compete with; but actually exceed Letterman’s ratings in the time slot. Of course, by promising O’Brien the prospect of the Tonight Show at a given time, they were able to prevent him from leaving the network and retained his services for those years.

Decisions

So, NBC chose to transition the Tonight Show franchise to O’Brien as had been agreed upon – though there was little market reason to do so – other than the prior agreement being in place. In essence, they pushed Leno aside when he was at the top of his ability to draw viewers and handed the show over to O’Brien. However, NBC was fearful that Leno would ultimately compete with O’Brien in a talk show format, so they decided to create a variety show to be hosted by Leno and precede the Tonight Show with Conan O’Brien with that show.

However, the 10pm EST time slot has been a key time slot for adult directed drama shows. It falls at a time when most children have been put to bed and the parent or adult in the household can now watch shows that appeal to them. A Leno-hosted variety show was a poor substitute for what the marketplace wanted, was willing to watch, and would accept.

Economics

The cost to produce a variety show is significantly less than what it costs to produce a drama on TV. So, while the Accountants kept an eye on the expense side of the business, the people who should have countered that the revenue generation ability of a variety show was also much less than a well scripted and acted drama.

So, although the plan was to give the shows a year to prove their ability to secure the audience’s attention; as a result of local affiliates complaining that the 10pm EST show (Leno’s) was tanking and it was harming the shows it was designed to lead into (Local News, Tonight Show, etc.) – NBC recognized that they were losing advertsing revenue on their now lower watched shows. They then panicked. Fearful that they were losing the market as a result of the ill-advised variety show concept that was cobbled together to hold onto the talent of a Jay Leno, they reversed course and are trying to reinstate Leno into the 11:30 EST timeslot.

Only now, O’Brien is balking at being pushed back to midnight and may be threatening to leave for a competing network. While there are other shows that will be impacted as a result of this domino effect; NBC’s poorly thought out plan and tactical focus over strategic thinking has come back to embarass them.

Lessons

The lessons are easy to spot in this mess with the benefit of hindsight:

1) Strategically, NBC had put a plan in place, but did not also include likely scenarios or other options. It went forward as if the ratings were not going to change and the competitive balance would remain the same in 2009 as they were in 2004.
2) There was no real understanding of what the market wanted – when the deal was struck, the internet, DVR, and alternative entertainment options were not factored into how late night television would change.
3) The failure to secure the buy-in from the affiliates to the plan PRIOR to execution led to distrust, conflict, and no real support for the tactics or strategy.
4) The reliance on cost savings over quality programming led to decisions being made in a vacuum that were not inclusive of market realities.
5) A failure to understand the willingness of the parties to willingly support the strategy (Leno appears to publically support the company position; but O’Brien has been quoted as being unwilling to cooperate with what he perceives to be a poor plan.

While it may appear to be on the surface all jokes and good times – there is much to be learned in running a business by looking at how NBC is handling or mishandling their late night shows.

Personal but not Confidential

Tuesday, January 12, 2010 by:David Zahn
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One of the outgrowths of the expansion of technology in society is the tradeoff between sharing of personal information about ourselves and the ability of businesses to better serve us. In a society where protecting one’s right to privacy is believed to be of tremendous importance, there is tremendous consumer cynicism and distrust of requests (or demands) by businesses for personal information.

Cottage Industry

Because of the fear of personal information being used by unscrupulous sorts for nefarious gains engaged in criminal activity, many people shy away from releasing information that they perceive may allow others to learn more about them than they would prefer. Further, there is the concern that others may steal their identities and then use that personal information to make purchases, impersonate them and make commitments as if they are the person, or do a whole host of other potentially devastating acts. Because of the frequency and ease of internet use for both personal and business uses; the number of scams perpertrated on naive or unsuspecting web browsers has increased multi-fold.

The admonition that parents give their children to, “only communicate with people you know when online” equally applies to the adults. To protect the web browsing adult from any devastating effects of loss of identity, there are a number of businesses that have cropped up to provide identity protection and offer what is essentially an insurance against any untoward consequences as a result of inappropriate use of one’s personal information. The very nature of this business opportunity though, unsettles as much as it reassures. It reinforces the notion of the danger of protecting one’s personal information.

Loyalty Cards

Many retailers, both online and physical stores have identified the benefits of using loyalty cards for both their purposes in selling and marketing to consumers, and for helping their consumers receive better service or targeted help based on previous purchases and likely interests. Of course, in order to participate in the loyalty card benefits, the shopper must provide answers to questions posed by the retailer. Depending on the shopper’s perception, those questions may be deemed as innocent enough to respond to in order to secure discounts or be provided with early notice of sales, etc., or the questions may be seen as being too intrusive and really not appropriate to release to strangers for purposes of tracking and trailing shoppers’ behaviors, wants, and needs based on purchase history, family dynamics, income, etc.

In fact, there is an organization CASPIAN (Consumers Against Supermarket Privacy Invasion and Numbering – www.nocards.org) that lobbies against any efforts by retailers to capture data about shoppers through the loyalty cards or Radio Frequency Identification Devices (RFID). The fear is that by inserting chips on or in products purchased by shoppers that there was an invasion of privacy because the RF signals could then track where people go with the product.

Travel

Very much in the news has been the discusssion around the enhanced security screening machines that will allow TSA agents to identify if travelers are carrying explosives or other devices on their person under their clothing by essentially viewing the outline of one’s body as they are scanned. Obviously, this invites a discussion about how much freedom one should be asked (or forced) to relinquish in order to board a plane and fly. As one might imagine, questions about; who has access to the images, how long are the images stored, what does the image actually contain, how easy is it to link a traveler to an image, etc. have arisen.

Positive Side

And yet, within the last week, many women voluntarily and proudly shared information about themselves that they would otherwise have considered none of anyone’s business. On the social networking site, Facebook, there was a movement in support of raising awareness about breast cancer that asked women to share what color bra they were wearing and posting the color on their profile. While the connection between a Facebook post and discovering a cure for cancer may seem spurious to most; the eagerness with which many women chose to participate in the seemingly harmless, though personally revealing details of their bra color does illuminate an interesting part of the discussion around the sharing of personal information. When people see the benefit or can connect with the reason for the request; they are more apt to comply. If they perceive that they are sharing information with no clear advantage, and possibly a disadvantage to having shared the information, they will be hesitant.

Business Insights

Knowing how protective people are of their personal information and how they are reticent to release too much of it without good reason; businesses would be wise to share with their prospects and customers:

1) What information is being requested, and what is essential and what is not to share
2) How that information will be used
3) What safeguards are in place to prevent it from being shared inappropriately
4) How long the information will remain “on file”
5) Most importantly, what the prospect or customer gains as a result of sharing that information.

Anything less than that – and people will not trust the retailer or business and will be skeptical of what value is derived from sharing what is the most prized and personal information about themselves.

How do you determine what information to protect and what information to share?  What have your experiences been (good and bad) with sharing personal information?

To Sir, With Love

Friday, January 8, 2010 by:David Zahn
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One of the decisions salespeople, job hunters, and those seeking to speak to business leaders they may never have met confront is how to refer to the person when writing or calling them. Most of us have been taught to show respect and address elders and people in positions of authority by some honorific.

It would be seen as rude to call a University Professor by her first name and most students opt for prefacing communication with either Dr. or Professor. Certainly, it would be ill-advised to use anything but “Your Honor” when in front of a judge in court. And, most medical practitioners are still called Dr. (fill in last name) by their patients.

However, this showing of deference may not always be the best approach when attempting to sell to a business person. While the default may be to refer to the executive as Mr. X or Ms. Y; it has an unintended consequence. By doing so, the dynamic of the relationship is tilted in favor of the executive. The executive is the one being referred to by an honorific while the job seeker or sales person is “Betty” or “Jim.” Psychologically, the person referred to by their first name is minimized and the executive is now being “begged” for a moment of time or for consideration.

If the approach is otherwise, and the sales person or job seeker uses the first name of the executive, they run the risk of being seen as becoming too familiar too quickly. Another consequence is that they may refer to someone incorrectly. Does every Henry want to be called Hank? Does Rebecca bristle at being called Becky? What if Richard prefers to be called Rick and not Rich or Richard? The dangers are equally detrimental to assume too much familiarity too quickly.

When approaching someone for the first time, I often will do one of the following:

1) Use an honorific or title and their last name and then ask them what name they prefer I use. Rarely will they tell me to continue to use the Mr. or Ms. and last name. By doing this, I have asked permission to use their first name, and have gotten them to subtly recognize the equality of power we each have in the relationship. I offer a service they can use and they are a prospect or client that is held in highest esteem. I am no longer presenting to the person as if they are on a throne and I am on my knees worshipping. Rather, we are two business people talking about an issue I have expertise in solving, and the executive is in search of a solution.

2) If at a social gathering and they are introduced as Mr. or Ms. X, I will shake hands and then apologize as I say, “I am sorry, I did not catch your first name.” Almost always, they will volunteer it and we will have a quick laugh before we continue the conversation.

As a job seeker, the feeling may be one of hope and desperation as the cover letter is addressed to one executive or another and the fear is that assuming the wrong posture will eliminate the person from consideration. While I am sure that has occurred and is occurring; I find it more beneficial to level the relationship dynamic as quickly as feasible and address the other person as an equal. If possible, place a phone call to the executive to alert them that a resume is on the way (and in that conversation try to extract how they wish to be addressed). Or, you can call their voicemail after hours and after you have heard how they answer the phone (this is Mike White, or You have reached Annie Jorgenson) – you can feel comfortable using that in your communication.

Will this always work, clearly not. Is it a bit controversial, perhaps. However, with the increased informality accepted in society, the risks are relatively low and the possibility of success seems fairly high. While not for everyone, the breaking down of the use of formality is a good thing when it gets in the way of securing respect and acknowledgement of your contribution or potential contribution to a company’s bottomline.

How have you handled that dilemma? What tips do you have for overcoming those obstacles? What successes or failures can you attribute to using a person’s first name or using the honorific?

Being The Best You

Tuesday, January 5, 2010 by:David Zahn
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Every business person has had the experience of looking back on their past actions or reflecting on how their behavior did not represent their peak of performance. While the reasons are understandable given the; stress, tension, frustration, and time constraints within which many actions are taken – the result is still an outcome that is less than the full potential of that business person.

After a fifteen year career in corporate HR functions across many different industries and companies, Liz Carey recognized that many corporate teams and individuals were achieving less than optimal results. As a result, she has founded a leadership consultancy company, Leadership Connections (www.leadership-connections.com) focused on providing executives with workshops to help participants develop the awareness and skills needed to get productive outcomes from difficult workplace situations.

Who Needs It?

Ms. Carey points out that, “People who hire a coach for themselves are usually the type of people who strive to be the best they can be. They’re already good, and at the same time, they realize that there are some areas where they might be able to do a little better.” She further acknowledges that, “We all have stressful lives and a good coaching relationship helps the client navigate that stressful landscape with greater ease, more energy, and better financial results for themselves and their companies. Everyone’s looking for an edge, a way to be their very best, and more and more people are using a coach to provide that edge.”

According to Ms. Carey; among the possible indicators that a business person is not operating at their best and may benefit from working with a coach, are:

• Having a difficult time with a co-worker, colleague, subordinate or others to the point of becoming a distraction and making it harder for the person to get the job done
• Noticing the team morale and productivity are down because of cutbacks and layoffs
• A recent promotion that has overwhelmed the person and led to a decline in performance.

What Does It Look Like?

When asked if coaching is at all like therapy, Ms. Carey was quick to point out, “It’s definitely not therapy! It’s just a tool that more and more people are using to help themselves get better results. The goal of the coaching is to help people improve their performance by increasing their awareness of their habits and tendencies, and understand how they are perceived by others.”

She then gave some more specifics about what the coaching exchange would entail by sharing that while each client dynamic is unique:

• It generally includes meeting with the coach two to three times a month, sometimes by phone and other times face-to-face
• An engagement may begin with a six-month commitment – and occasionally extends into longer term assignments after a specific need has been addressed and additional needs have been surfaced
o The coach will work with the client to identify the specific area(s) to work on improving
o Different intervention techniques will be employed to address those specific areas
o Occasionally, the intervention may include others aside from the person being coached (other co-workers, family members, etc.) based on the needs of the client. This offers an opportunity for others to offer encouragement, monitor improvement, and express support for the client’s professional development.

What Will The Outcome Be?

For many small business owners, the concept of leadership is perplexing and often elusive. Liz Carey sheds some light on that by explaining, “We all have our own natural form of leadership, and that’s something we’re born with. People can learn to recognize their leadership style. They’ll learn what their habits and tendencies are, when those tendencies are likely to produce great results, and when a different course of action may produce better results. They learn how to flex to what the situation demands, while still being authentic to whom they are as a person and as a leader. It’s not a “one-size-fits-all” leadership model.”

Ms. Carey then elaborates further by explaining, “Part of the beauty of working with a coach is that you can practice with them. If there’s a particular issue that’s popping up with some regularity in the workplace, the client and the coach can discuss the issue, and possible ways of getting a better outcome. The client can then pick a new way of handling the situation, and practice that way with their coach. It’s a great, no-pressure way to practice. Then, when the situation pops up again in the workplace, they have already practiced a new way of dealing with it.”

For the coaching to be successful, Ms. Carey reminds, “An open, trusting relationship between the client and the coach is critical to success. If the client isn’t open with the coach, or if the coach doesn’t gain the client’s trust, the relationship will probably struggle.”

By way of sharing an analogy that many people can relate to, Ms. Carey makes the comparison to sports, “If you look at the world of athletics, you see that even world-class athletes hire coaches to help them be their very best. They realize that with a little help, they can get even better. Hiring a coach is a smart move that pays off in dollars and cents and in quality of life. A good coaching relationship is going to help the client make better decisions, build stronger relationships, and reach their career goals more quickly. It’s also going to help them enjoy their life more because they will constantly be adding tools to help navigate the difficult situations that everybody encounters. Difficult relationships, shifting priorities, pressure to meet numbers – everyone faces it. And the better someone can handle those pressures, the happier they tend to be, and the better they tend to perform at work.”

The advantages offered by Leadership Connections, and Liz Carey are inspiring and can improve the results of any business executive seeking to improve their performance. Many of the techniques employed by Ms. Carey are innovative and involve working with horses, providing insights into a client’s old habits, comparing the results of new habits versus standard approaches, etc. Liz Carey welcomes the opportunity to discuss her successes with other clients and can be reached at lcarey@leadership-connections.com to provide greater insight into her coaching model to help people be their best.

None So Innovative As Mom

Tuesday, January 5, 2010 by:David Zahn
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It has been said that necessity is the mother of invention and that the thought is father to the deed, but those words have never been truer than when applied to parents striving to provide their children with the essentials in this economy. Faced with children that quickly outgrow clothing well before the garments usefulness has been reached, wanting to be socially responsible and not contribute to further waste and pollution, and being mindful of the need to stretch the family budget as far as possible, many parents struggle to succeed on all counts.

Entrepreneur and Mom

Gabrielle Fludd, a former Design Production Manager for a furniture retailer confronted that problem when her employer was less than thrilled with her starting a family and she believes took the opportunity to use the difficult economy as a reason to sever her ties with her employment. With skills in administration, design, organizational and problem solving skills in her portfolio; she recognized the opportunity to drastically depart from the corporate lifestyle she had been pursuing and create her own business that served the needs of mothers, children, and helped the environment while also meeting the important criteria of helping people save money.

Seeing the business potential in expanding on the consignment store concept and taking it online,, Ms. Fludd launched, www.gumdropswap.com, in Bridgeport, CT as an internet site that allowed people to trade their children’s clothing in for points that can then be applied to future purchases of clothing in a larger size to accommodate the needs of a growing child. The idea strikes a chord with any parent who has had to part with an article of clothing that still is in good condition, but no longer fits the child. In essence, Ms. Fludd had hit upon a business trifecta:

1. Provided a way for parents to clothe their children by leveraging their trade-in clothing that no longer fits, but was still in good condition
2. Allowed parents to reduce the overall expense of clothing their children by redistributing quality clothing at a reduced price from what retail stores would charge for comparable garments
3. Allowed participating families to feel good about not further contributing to pollution or filling landfills by discarding clothing that could still be worn.

Success Has Many Fathers

While the idea seemed like a good one when she considered it, Ms. Fludd also realized that it was quite a different challenge to run her own business and to migrate from a brick and mortar retailing environment to one that is reliant on internet transactions. While she was exhilarated at the potential the business could provide, she also knew that the risks were hers alone and if she should fail, she would have to accept all of the accountability. After all, she was investing her own savings into the venture, so she had to be careful about the choices she was to make. To confirm that her decision was a good one, and to prove to herself that she was not in error about the potential for the business; she did a very wise thing; she asked others for their opinions and guidance. Among the things she did to solidify her business idea, was:

• Interviewed acquaintances that previously owned or currently own their own businesses to seek their counsel on what worked and what to avoid.
• Relied on her own basic knowledge of web design for the tasks she could handle, but then sought professional web design support that was both knowledgeable and experienced, as well as affordable
• Spoke with other mothers and fathers – her prospective customer base to assess how they would use the service and what they sought in a business that could help them provide clothing for their families.

By being certain to get as many opinions, experts, and experiences included in her upfront research; Ms. Fludd was able to crystallize her vision and take the steps to increase the likelihood of success. Had she worked alone on her idea, she would have missed some important insights that only were provided because she trial tested the idea with important constituents. A key learning she derived from the experience was the importance of having a well designed website that was easy to navigate, allowed for transactions to be completed simply, and provided product descriptions with sufficient detail so shoppers could make informed choices. Ms. Fludd concedes, “The website was key and I had to find someone I could communicate and collaborate with. The designer proved to be a great asset and even suggested features I never thought were possible.”

Marketing Insights

While opening up a store on the web and selling merchandise is relatively straightforward, what is not nearly as easy to achieve is to build awareness of the site and to drive traffic to the website. Ms. Fludd recognized that early on and noted, “it was very important to me to create a business that sold itself because I needed word-of-mouth marketing to build my customer base.” To help create the impetus for people to talk to friends and family about the site, Ms. Fludd purposely kept the subscription price low to make it accessible to everyone. In fact, the question she is asked most often when people see how inexpensive it is to join is, “How do you make money?” By recognizing that she is marketing to people suffering in a recession with unemployment rates soaring, Ms. Fludd has offered many families with a reason to share her website address and to speak favorably of their experience in her effort to get them to become advocates for her and to generate excitement for her business.

Recognizing that her own marketing budget would have to be used judiciously, Ms. Fludd relied on the use of social networking sites to take advantage of her existing social circles. Her use of those sites led to her finding a supportive online community of fellow “momtrepreneurs” and other small business owners where she was able to share ideas and get some additional direction and insight. Additionally, she has petitioned local child care centers and churches to have them inform parents that the service exists. By building her customer base through this way, she has had controlled growth, but has begun to take on a viral life its of its own.

Another insight that evolved as the business was forming was the recognition that her local customers preferred to visit a physical location and complete purchases on the spot and not have to wait for product to be delivered via the mail. While the immediacy of the purchase is favorable, it presented an issue that Ms. Fludd is now addressing; the need for larger space for walk-in customers. What had been originally conceived as an internet business was now evolving into both a web-based business and a seven days a week, by appointment boutique for those within easy reach of the location. As she assesses the potential for the boutique side of the business, she is considering securing retail space and has been talking to the developers that restored the historic Arcade Mall in downtown Bridgeport.

When asked what suggestions she would have for others looking to start their own business, she emphatically replied, “ask for the opinions of potential customers and keep an open mind! Your original idea will likely have to be tweaked a few times, even after you open your business. Its important to have an elevator pitch (2 minute speech) ready when people ask what you do. You may not have time to fully explain a complicated ideas.” Ms. Fludd now reflects back on her launching of her business and comments, “I’ve been training for this job my whole life!”

Marketing Message Maneuvers

Tuesday, January 5, 2010 by:David Zahn
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As the economy tightened, many business owners were confronted by the reduction in customer count and the effect of the double jeopardy of smaller sized sales to their existing customers, Seeking to combat that outcome, many businesses tried to proactively market to new customers from different segments of the population than they previously had targeted.

A good portion of what passes for marketing and advertising for most businesses is squarely aimed at what would loosely be considered the Caucasian family of four living in the suburbs in their middle class, but upwardly mobile lifestyle. The clothing may be different, the home may be decorated more contemporarily, but it seems that little has changed since June and Ward Cleaver were raising Beaver in the 50’s and 60’s. Four demographic groups that are asserting their buying power and want to be marketed to in ways that are different than the classic advertising seen in most media are:

• People under 30
• Aging Baby Boomers
• Hispanics and Latinos
• Gay and Lesbians

Under 30 Crowd

During the tumultuous 60’s and early 70’s there had been a rallying cry to not trust anyone over 30 years old. The societal breach was so large that the younger generation was certain that anyone who did not share their experience could not possibly relate to them, their needs, and their preferred way of interacting. Similarly, the adolescents and young adults of today have strong preferences for how they wish to be marketed to, and how they wish to buy. Some of the ways that businesses should appeal to them are:

1. Interact with them and not at them. The younger consumer wants to feel a connection with the brand, the company, the owner. Wants to feel like the product “gets me” and understands them. Social media, website blogging, community events in support of causes, etc. go much further than an advertisement that makes claims.
2. They are jaded by unidirectional messages. If it feels like an ad, they are disbelieving. If it is a testimonial from peers or people they can relate to, it has more resonance for them. If it is a paid endorsement, they are cynical.
3. Don’t portray them as slackers, video-game playing mindless fools only interested in pizza and the opposite sex. Today’s teens and young adults are aware, active, and serious about their pursuits and have grown up in a world where the internet, world events, and peer to peer discussions hold more sway than a talking head or advertisement.

A Touch of Gray
It would be a mistake to ignore the population over 50 years old or take them for granted. According to the 2002 Census, they represent over 12% of the population and are growing. The images of the elderly as hard of hearing, slow moving or immobile with various health ailments is not at all in keeping with the reality of that demographic. Many of these people are still active, pursuing new adventures, and also happen to have more discretionary income than the other segments of the population. When selling or marketing to those demographic, be certain to:

1. Not offend by portraying them as in need of assistance from younger people, incapable of living independently, or as objects of scorn or derision in an attempt to curry favor with younger customers.
2. Do not reference or mention their age in advertisements, but rather focus on their active lifestyle.
3. It is OK to reference their roles as grandparents, but as a collaborator of fun activities with their grandchildren and not as a dependent upon them.

Hispanics and Latinos

The ethnic demographic experiencing the largest gains in the United States are the self identifying Hispanics and Latino populations. However, they do not all respond or react similarly to each other any more than all teens are purchasers of acne creams or all aging baby boomers seek incontinence products. For example:

1. Hispanic or Latino covers a wide variety of cultures, backgrounds, and experiences. Flamenco dancers are associated with Spain, and will not have any cultural connection to Mexicans. Portraying a family consuming a dinner of Tacos or burritos will not connect with Puerto Ricans, Venezuelans, or other Hispanic demographics.
2. Generally speaking, Hispanics value their culture and their language – but also recognize the importance of communicating in English. It is a mistake to assume that by merely creating a Spanish advertisement or marketing message that it will succeed with this demographic. Having staff that can address questions, follow up with customers, or sell to this demographic from a common experience and culture will be more highly valued.
3. Recognize that first generation immigrants and second or third generation acculturated Hispanics will be very different in their preferences. Know the needs of your customer before assuming that “they” prefer one method or approach over another.

Gay and Lesbian

Many businesses have shied away from attracting or appealing to Gay and Lesbian customers out of fear, prejudice, or other reasons. The fact is that this demographic often represents an untapped market that very closely mirrors the ideal consumer for many businesses. This group tends to be highly educated, possesses larger amounts of discretionary income than their heterosexual counterparts (by 2.4% according to one recent study), and are often more brand loyal than others. Suggested methods for connecting with this customer include:

1. Advertise in media read by this demographic – most towns and cities have an alternative press that is targeted at this demographic, as well as many of the traditional media that are also read.
2. Sponsor events and take part in the events that are popular with this target market. Just like all of the other demographic groups discussed, they want to feel the brand is part of their life and not masquerading in an attempt to drive sales. There has to be sincerity in the brand or company’s efforts.
3. Subtle changes matter. Change wording from spouse to partner in ads, or demonstrating diversity in print or other advertising.

There are many more suggestions that could be made in order to improve the chances of success with these or other demographics. The opportunity to do so is vast, but should also be approached first with a desire to understand what the prospective shopper or consumer seeks and not with the assumption that the current marketing messages will suffice equally well with all audiences.

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