What Blackberry Can Teach (Before it is too late)

Monday, July 2, 2012 by:David Zahn
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The Canadian company, Research in Motion (RIM) created a disruptive technology that set the world of mobile communication on a trajectory of innovation that continues to this day. So pervasive was the device in the hands of its owners, that it was often referred to as a “Crackberry” for how addictive it became.  The dominance it held over competitors was impressive and seemed insurmountable – that is until Steve Jobs and Apple came along with their iPhones and then every other competitor got into the act with Androids and others flooding the market and superseding whatever advantages RIM once had over those other companies.

Is Blackberry's parent company, RIM going to last?

The bleeding is so bad at Research in Motion that they recently announced the elimination of 5000 jobs and a quarterly loss of over $500 million.  Further exacerbating their troubles, they also admitted that the release of the Blackberry 10 smartphone will be delayed.  These actions all taken in concert point to a firm that is reeling.  Customer confidence and loyalty have eroded and the prospects of a successful turnaround are dwindling.

A recent article in Entrepreneur examined the reasons for the downfall of the once mighty company, and came up with the following reasons:

  1. Forgot or ignored their competition
  2. Leadership missteps
  3. Adapt to changes
  4. Remain focused

Forgetting there are Competitors

Just five years ago, RIM had 9 million global subscribers and had sold 20 million units.  In spite of drawing the attention of business press, consumers, and being very public with their success – it did not occur to them that they were also attracting the interest of competitors who saw a market that was growing.  Ignoring, or at least not responding as Apple began to plan their response; Blackberry units are now third in volume behin iPhones and Androids.

Leader vs. Co-Leaders

As with many technology start-ups, RIM was being run initially by two people (Jim Basillie and Mike Lazardis).  As the company matured though, the need for a singular direction, voice, strategy, etc. became evident.  However, the confusion raised by having to serve two masters created a hardship on the company that it only rectified within the last year when it went to a singular head.

Aside from the complexity of having the two co-CEOs in different offices and not having frequent contact, the different strategies that each valued were not always aligned and direct reports were often left uncertain of what was truly the highest priority, current strategy, or specific goals and metrics to pursue.

Change is a Constant

Because the company did not anticipate and react to change as quickly or successfully as needed, it is now in a position where under current CEO, Thorsten Heins, there is talk of selling off parts of the company.  The loss of market share, revenue, and dwindling profitability has compelled the company to access savings and resources earmarked for other purposes just to meet expenses.

Focus on Core Business

One of the key lessons in the popular business book ”In Search of Excellence” by Peters and Waterman was “Stick to the Knitting.”  By that, they meant that a firm built on strengths in one area should leverage that strength and not seek to expand beyond what it does best.  Similarly, RIM’s owners attempted to parlay their expertise in mobile devices and went after non-essential businesses (the purchase of professional sports teams and various research institutions among them).  When the Blackberry business needed direction and innovation the most, senior management was off seeking other ventures and lost focus on what made RIM the powerhouse it had become.

While most small businesses will not approach the size and stature of RIM, the lessons to be extracted are equally applicable to smaller firms.  It is only a matter of scope that changes – not content or importance.

Categories: General

Is Training Relevant?

Monday, June 25, 2012 by:David Zahn
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As the economy continues to to be propped up on the shakiest of foundations, many employers are having to make decisions about where to invest their revenue.  Is it best placed in inventory as a hedge against inflation so that product components are purchased at a lower cost and able to be sold at a higher cost?  Should equipment, technology, and machinery be bought so that productivity can be increased – and possibly labor could be reduced, thereby getting a double benefit of reduced costs and increased produtivity.  A third option available to businesses is to invest in the skill development and competency enhancement of their employees.

Why Not Just Hire The Skills Initially?

There may be some business owners that would prefer to seek the requisite skills needed in their new hires.  The thinking is that rather than work to provide opportunities for employees to grow and evolve into positions; it is better to just seek people who have received that training elsewhere and bring them on-board.  The rationale for this thinking is that it is expensive to train, takes time, and very likely training is not a core strength of the organization.

Here is why that thinking can be problematic:

  1. The pace of a company’s needs often accelerate more quickly than can be sourced from the outside.  So, today’s skilled new hire may no longer be considered “best in class” in the next year or two.
  2. Even if someone has received training – it is often in need of refinement and customization to fit the new organization’s culture, objectives, methods, etc.  So, there is still a need for training.
  3. The salary requirements of a highly trained new hire will exceed the requirements of someone who is capable, but not as trained.
  4. If employees have all been trained elsewhere and are now working together at a new company, there is a strong likelihood that there will not be consistency of skills, approaches, and resources used in performing the tasks.

So, What Needs to be Trained?

A recent New York Times article that appeared in the June 20th edition http://boss.blogs.nytimes.com/2012/06/20/figuring-out-a-better-way-to-train-employees/  addressed how one business approached that decision.  The business owner spotlighted in the article, Paul Downs, was very clear that he wanted to focus on when he commented, “I’m not interested in training individuals to do something unless it’s necessary for that person’s specialized role.”  Training should initially be focused on the NEED to have and not on the NICE to have. 

As companies grow, they often find they will need to upgrade the tools used (computer applications or software, processes used to accomplish tasks, and the differing requirements of customers).  Those are all opportunities for training.  Mission-critical needs that are required to succeed are the first priority.

Who Does It?

Training is a decision that cannot be left to chance.

Training can often be accomplished in a mentor-mentee relationship where one helps another.  However, it is essential to ensure that the mentor is:

a) doing it correctly him or herself

b) has a skill to train and educate another.  Just simply being an expert is not sufficient to ensure successful training.

So, it is often necessary to have someone tasked with that responsibility to oversee that opportunities are identified and met.  In some situations, it is advisable to have an external consultant assist to be certain that things are done efficiently, effectively, and allow employees to focus on their jobs without having to come up to speed on a skill in order to train others.  Rather, the employees can learn from a true expert and then incorporate those skills into their own jobs.

Categories: General

Exporting for Small Business

Monday, June 18, 2012 by:David Zahn
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One of the concerns that companies have as they look to expand their business is overcoming the complexities of exporting products internationally.  There are many concerns that can trip up a growing company  – as well as literally a world of opportunity.

The Ways to Approach Exporting

  1. Sell products to someone domestically who then assumes responsibility for selling the product(s) to an international clientele.  This approach is no different than a domestic sale for the manufacturing company/original seller.  It is the purchasing company that assumes the risk of placing products with the foreign marketplace.
  2. Using intermediaries to export products.  Unlike the first example, the original seller is aware and participatative in the export sale of the product.  These intermediaries go by various names.  Some of them are Export Management Companies (EMCs), Export Trade Companies (ETCs), International Trade Consultants, etc.  Given that the relationship is collaborative between the companies; it is ordinary for the original seller to retain a fair amount of control over the process.
  3. Direct exporting requires the greatest amount of skill and knowledge to successfully implement.  In this arrangement, the selling company retains the responsibility for the entire process.  A separate sales and distribution organization is often necessary to meet/fulfill the requirements of this distribution challenge.

Help in making the appropriate determination of which approach to use (and hybrids between two or more of the above are not uncommon) can be sough at http://www.unzco.com/basicguide/c4.html.

The opportunity to expand a company's reach through exporting requires forethought.

Obviously, the critical questions to answer include the following considerations for distribution:

  • Which channels of distribution should the company consider in marketing products (and which ones in what countries or regions of the globe)? 
  • Whether it makes sense to manufacture/product product locally in the market it will be distributed into, or if product should be shippped into the local market? 
  • What level of support/assistance is required to provide the necesssary support (sale, marketing, operations, etc.)?  Is an intermediary a better option than trying to assume total control?
  • Is there an opportunity to leverage another company with a complementary product that has an established method of distribution and “piggyback” onto their efforts (by having them sell on your behalf, or in some other way assist in the opening up of the market).

For any company that is considering selling products internationally, it is important that the legal considerations be well understood as the laws governing commerce in the United States may not be consistent with the laws in other countries.  While this decision is one that can have significant upside for a company; it can also lead to tremendous upset and difficulties for a company that is ill-prepared for the difficulties of setting up distribution in a foreign country.

Categories: General

BI and Sales

Wednesday, June 13, 2012 by:David Zahn
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Sales has evolved over the years to require far more sophistication and insight to ensure success than the Arthur Miller character, Willy Loman, in “Death of a Salesman.” Now, the decision support tools, analytic capabilities, ability to create “ad hoc” presentations to meet unique customer requirements must exist and support sales initiatives. 

The sales person's job has changed dramatically.

The requirements to succeed have changed. Current challenges include an uncertain economic climate, decreased consumer/shopper loyalty to both brands and outlets, the ubiquity of internet options available to shoppers encroaching upon the conventional “path to purchase” through brick and mortar stores and the overwhelming amount of data that is now available to be collected and expected to be analyzed and interpreted. All of which leads to a perplexing problem: How can we identify and measure what counts if we can’t get it collected, formatted, and ready for analysis?
The constant pressure many manufacturers and retailers face to focus on increasing efficiency while maintaining effectiveness and increasing performance has reached a fevered pitch. Budgets are often frozen and expenditures closely analyzed and so help cannot be found by adding headcount. With pressure being applied on both ends of the managerial equation – reduce costs while increasing revenue and/or profit it has truly become a new reality confronting the industry and only those prepared to address the new demands will succeed.
In this new reality people are expected to work both harder and smarter; therefore a deeper understanding and leveraging of the power of business intelligence tools that offer real-time analytic capabilities can bridge the gap between doing business as usual and floundering.

Need for a Plan

However, doing more with less requires a focused plan to deliver results. Just expecting or demanding that people do more will not successfully meet the demands of the new marketplace. What is required is an engine or tool that can reduce time-intensive analysis and free up the expertise to appropriately implement business-building ideas and seize opportunities to leverage the insights to develop better relationships between trading partners, improve results, and provide tangible benefits to the organization.

You Can’t Do More with Less Unless You Understand What More Means

 
“More” is often defined as providing clarity and rationale and not simply additional data. Employees are overwhelmed by the increase in data available, having to report on it and provide it to fellow employees or customers more quickly than ever before.  In what may seem counter-intuitive, the challenge is not to produce more insights, more analysis, or more data; but to produce fewer.  However, they must be better targeted and relevant insights that directly lead to improved business results.  Reducing the extraneous many facts down to those essential few nuggets is the task that continuously trips many in the industry.

BI Tools or Strategic Weapons

Operational Necessity
Being able to quickly disseminate information and share key findings is a differentiator between competitors.  Those companies that are cohesive and reliable to work with across different geographies and able to offer consistent insights, innovation and business building ideas will see more opportunities to participate in the strategically important initiatives with their customers. Businesses that have not learned the importance of sharing information often have silos or pockets of expertise where the knowledge and insight is hoarded.  That leads to the company having to forever recreate the wheel in each account. They lose ground to the competitors that have learned how to leverage the business intelligence tools that permit almost instantaneous refreshes, updates, and sharing of best practices across the entire sales, marketing or analytic teams.
Tip 1:  Empower the People
Business Intelligence tools also permit core users to create the majority of a presentation/report and allow the local account handler to be more effective through:
• Focusing on building the relationship and uncovering insights rather than presentation/report creation
• Providing best in breed caliber insights that can more effectively be created by HQ personnel with exposure to multiple account situations
 
By allowing the core users (typically HQ-based personnel to leverage the BI tools, 80% of the presentation/report can be developed for sales personnel and still allow for local tailoring or customization to be done by the field team based on unique needs of the account, customer, etc. In this way, there is a consistency of message, easier maintenance and control of standards and a reduction in the versions of any one presentation/report.
 
Tip 2:  Remove the Guesswork
One progressive manufacturer created a series of standard presentation/reports designed to handle the majority of scenarios that a salesperson was likely to confront under normal selling conditions. They identified that most sales presentation/reports fell under one of the following classifications:
• New Item Introductions
• Category Review
• Space Management (SKU Optimizations/SKU Rationalizations)
• New Category Manager
• Promotional Idea
By developing “shell” presentation/reports that contained the templates, marketing messages and even the suggested narrative to use when speaking to each slide for each of the presentation/reports, they were able to upgrade the quality of presentation/reports being made to accounts. Additionally, it has freed up internal resources to truly focus on the exception-based presentation/reports that required greater depth of research, insight or were beyond the capabilities of a field-based resource to address easily.

 Tip 3:  Ensure Consistency, Allow for Customization
Provide presentations/reports that represent the best thinking – business intelligence tools should not lock the presenter into delivering the presentation/report as provided. The flexibility of the tools should allow for the local salesperson or others to edit presentation/ reports received through:
• Editing text as they would in PowerPoint
• Integrating data from other sources (customer proprietary or other)
• Adding/deleting slides
• Changing the appearance of slides (formatting, logos, fonts, etc.)
• Modifying the competitive sets or timeframes of any given analysis

Categories: General

Social Media and Small Business Part 2

Sunday, June 3, 2012 by:David Zahn
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In last week’s post, the first part of this article was published.  You can see that article by clicking on 1    http://blog.ctnews.com/zahn/2012/05/29/social-media-and-small-business-part-1/ or just scrolling down to the prior article.  The continuation of the interview appears below:

3.       What are some of the caveats or “watch-outs” to be aware of in using social media (whether it is frequency of communication, type of communications, use of humor, handling complaints posted, etc.)?

Just like when you purchase something online, you need to use security measures with your brand. Accounts can be hacked like your e-mail account. That is a huge mess to clean up and try explaining to your customers. I encourage you to share up to date news, photos, inspiration, etc with your fans. Customers love to connect. I think we crave those connections even more that we use so much technology. It’s not always about the sale pitch. Quality web content attracts the right kind of customer. Be straight to the point in service and product descriptions. Don’t post fluff, potential customers will be turned off by the unnecessary info and get bored. Never publicly rant or vent, especially about a customer. This will never be well received and you will look petty. Save the complaining for coffee with a good friend.

4. What tools you recommend to track performance in social media (coupon redemption rates, sales increases, “likes” or “fans” or others)?
There are many sites that allow you to track your online performance across multiple platforms like HootSuite. I’ve been using YourBuzz which is still in Beta. You can post one status from there and it will publish simultaneously to Facebook, Twitter, LinkedIn, etc. YourBuzz sends me a weekly update of how many new Facebook fans, Twitter mentions and followers. But I use Facebook daily so I track those stats regularly. I used Google Adwords earlier in my business and appreciated being able to adjust keywords, budget and ad content depending on what was going on in my business at the time. Overstock? Time to run a sale. But now that I am more established and have a higher rank in organic listings, I have scaled back my Adwords budget.
5. How do you create a “list” for contacting (do you have multiple lists? Do they differ based on geography, previous purchases, other?)? Do you “buy” lists from list brokers? Do you have an opinion/experience on using them?
I have never purchased a list per se. The two marketing choices I’ve made that I regret were to dip my toe in direct marketing. When I first opened Gumdrop Swap in 2010, I paid $400 for a tiny ad in the back of a publication that was mostly distributed in OB/GYN offices or given to new moms leaving the hospital. It made total sense at the time. A great way to reach my target audience. But I was more interested in the email addresses that I would be given from moms that subscribed to their website. I may have gotten one customer out of it. Then, I bombed again when I agreed to run an ad with coupon in Welcome Wagon, an ad book that gets delivered to new home owners in the zip codes you specify. I agreed to try it for six months and it took me an additional six months to break the contract, due to all the fine print the sales person glazed over. Again, no customers. Welcome Wagon provided the mailing addresses of those that had received the book. They encouraged me to follow up with another direct mailing. I know how I feel about unsolicited (junk) mail, so I decided to just cut my losses. For some industries, buying a list may make sense, but they proved to be a poor decision for me. I have a widget on my home page that allows people to sign up to receive my newsletter. I do an e-blast about every two months. I also collect email addresses of my swappers. They give this willingly because they want to know what’s going on with the business.

GumDrop swap is looking to secure funding from a grant sponsored by Living Social and Chase.

NOTE:

  As a reminder; Gabby is competing for a small business grant being sponsored by Chase and LivingSocial.  The grants are being awarded through their Mission: Small Business contest.To qualify, a business  must get a minimum of 250 votes from Facebook users. Should GumDrop Swap win the grant; it would be used to move into a larger storefront on Main St which would allow the business to better serve customers.  Readers are encouraged to go to http://www.missionsmallbusiness.com/  and click “log-in & support”, then search for “Gumdrop Swap” in the search bar to vote (no need to enter city/state), then click “vote”.

Categories: General

Social Media and Small Business Part 1

Tuesday, May 29, 2012 by:David Zahn
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One of the first articles ever published as part of this blog was a spotlight on a local business that was just being formed.  That business, Gumdrop Swap has succeeded and grown from those inspiring start-up days.  Now, years later – the proprietor, Gabby F. has become somewhat expert in the use of Social Media.  Therefore, I recently followed up with Gabby and asked her to share some insights.  This will be a two-part interview series.  Part 1 is below.

Gabby F. in front the successful startup - GumDrop Swap.

1. How does social media (Facebook, Twitter, Pinterest, etc.) replace/supplement more traditional marketing methods (Advertising, PR efforts to be interviewed, holding events in the hopes that the media will cover it positively)?
Social media can be the great equalizer between big and small businesses. As a small business, you have the same potential to create a compelling campaign as a big corporation. Money doesn’t guarantee Facebook likes. Just look at GM pulling their Facebook ads recently. Everybody knows they make cars, how compelling could their ads have been? But a small business with a unique product or mission can quickly gain popularity. The more people that know your brand (your social reach), the more potential customers you have. A small business relies so much on word-of-mouth referrals. With so much technology, social media has replaced true socializing. So you need people to sing your company’s praises, share links, like, retweet, pin, etc. People text another person in the same house they’re in! If you ignore this shift in the way we consume and share info, your business is doomed.

Depending on what kind of work you do, traditional marketing methods may still be warranted. If you make a consumer product, you may benefit from an ad in a magazine that targets your audience. If you are an event planner, you should do a press release and invite news outlets to your event. The key is knowing your target audience. Young moms probably aren’t reading a printed newspaper. But if your business has something to do with finance, you would have the attention of the Wall Street types that read the paper on the train each morning. Whatever you do, you need to compliment traditional marketing with social media. If you are a micro-business with little to no marketing budget, the bare minimum web presence should be a website (could be a single page glorified business card) and Facebook page. If your business caters to women between the ages of 25-40 and your business has some visually stimulating element (interior designer, artist, fashion, etc) then you should probably get a Pinterest account which became very popular among this demographic.

2. What are the “tips and techniques” you have learned through your use of social media)?
Facebook is the media titan currently. Before it goes the way of Myspace, I find it to be a useful way to engage and interact with my potential customers (fans). Old fashioned marketing meant casting a wide net and hoping to snag some customers. I love the way Facebook ads let you scale down your target audience by gender, age, education, and even specific interests. You can even target people who are friends of people that are already your fans. But unless you have a specific promotion going on, I wouldn’t create an ad just to get Likes. If you provide a service or have a retail location, you may want to invest the time into writing a blog. Blogs quickly move up in Google ranking because the content tends to be updated more frequently than a website. WordPress blogs have so many widgets now, you can even sell product directly from the blog with a store widget. If you need help with social media or want a website built for an affordable rate, I recommend http://330made.com. They’re Fairfield County based team of entrepreneurs that have been there, done that when it comes to building their brands with a grass-roots approach.

As an example of how the business “practices what it preaches,” Gumdrop Swap is currently seeking to raise funds through a grant program being conducted through Social Media avenues.  The details are below:

Chase and LivingSocial are awarding up to 12 $250,000 small business grants through their Mission: Small Business contest. Each qualifying business must get a minimum of 250 votes from Facebook users. If GumDrop Swap were to win the grant, we would use some of the money to move into a larger storefront on Main St which would allow us to better serve my customers. You can imagine how a grant this size would impact the business and the community. We will finally be able to hire help and have vowed to hire locally.  To vote, go to http://www.missionsmallbusiness.com/ and on lower right click “log-in & support”, then search for “Gumdrop Swap” in the search bar to vote (no need to enter city/state), then click “vote”.

Categories: General

Source and Select For Success

Wednesday, May 23, 2012 by:David Zahn
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As the economy slowly seems to be turning more positive and companies are tentatively considering returning to hiring the staff that they have had to do without over the last few years; there is renewed attention being paid to how to go about securing the best candidates for job openings.  However, approaching this important decision in a non-strategic way can lead to difficulties for both the prospective employee and the company.  It is therefore important to follow a proscribed process to ensure that the chance of errors being made is kept to a minimum.

What is needed?

The first step is to determine what are the gaps, needs, or requirements for the business to succeed in both the short-term and long-term.  Going through the process of not only thinking of the immediate future, but how the position will evolve and grow over time and how the hire is expected to fill current versus future needs.

A job description will help clarify what is “in scope” for the position and what is out of scope.  Merely seeking help with “Marketing” is far  too broad.  Does the business require Public Relations help?  Advertising?  Website development? Or other needs?  A good resource for writing job descriptions is this article.

Turning over rocks

Looking for good employees can sometimes feel like turning over rocks.Once the parameters of the job have been determined, it is necessary to go and find suitable applicants with that background.  Associations, school career centers, articles published by authors with experience in the field, and personal networking contacts can all provide introductions to people with the right experience.  Other commonly used methods include hiring recruiters with experience and “tentacles into the industry,” posting jobs on websites, or in commonly read publications relevant to the industry or geography of the position’s location.

Each of these will require some trade-off in expense, time investment, and involvement in sorting through the potential applicants before making a determination to continue their candidacy for the position.  Given the economy still has a large number of people who are unemployed or under-employed, it is not uncommon for job postings to generate hundred of applications (many of which will be deemed to be outside the needs of the position).

Reviewing Candidates

The first step is often the resume.  Given that there are likely to be a large number of applicants, many companies or hiring managers will look for reasons to eliminate (rather than seek reasons to hire) applicants.  So, misspelled words, unexplained gaps, poorly organized content, or lies (schools attended, positions held, companies worked for) etc. will often eliminate the applicant from further consideration.

The next step is often an interview with the applicant.  If the applicant is unsure of what the resume includes, cannot speak knowledgeably about the experience, industry, or position requirements, etc.; it often raises concerns for the hiring manager and places that applicant in the “do not hire” pile.  Additionally, if the applicant does not show up on time, has poor hygiene, manners, or social graces; it can also relegate the person to the “do not proceed further” grouping.  Even in positions that are remote or do not involve social engagement – any factor that can be used as a negative differentiator will often work against the candidate.

One technique in common use today is the behavioral interview where rather than just asking what the applicant did or accomplished; the applicant is asked to provide an example of how they would approach an issue or when they previously did something and what the impact/process/techniques employed/etc. were for the company, themselves, and others.

As robotic as it seems, following up on references is highly recommended. Conventional wisdom would have you think that a reference listed would have been pre-screened by the applicant to ensure that only the most positive feedback would be given.  Yet, time and again, it has been shown that applicants do not do “due diligence’ with their references and when employers call or check on references – the response is lukewarm or even negative.

Success for the company and the new employee is predicated on doing the right things pre-hire and during the process of hiring.  If the strategy used to source and select employees is not aligned with the current and future needs of the business; the chances of it succeeding are dismal.  And, having to re-enter the process to try to correct a mistake in hiring initially is a further drain on resources and can be a distraction with implications for the organization and other employees.

Categories: General

Presentation Strategy

Tuesday, May 15, 2012 by:David Zahn
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  • It is part of almost any sales cycle that is beyond a “self-serve” purchase. With the exception of certain retail sales where the customer or shopper is expert enough to determine his/her needs alone and decide on the best product fit to accomplish the goal, a sales person will be involved. During that involvement, there will often be a presentation offered by the sales person to explain how the product or service accomplishes the meeting of the customer’s need(s).

Here Come the Yawns

It is at the point where the lights go out and the PowerPoint application is accessed that many customers silently pray for an electrical power failure.  Here is why:

  1. Presentations should excite, not bore buyers.

    The presentation is a long and unnecessary series of patting the presenter on the back delivered by the presenter (“I did this, we were first to do that, we are the best at, etc.”)

  2. The presentation includes too much text in way-too-small font to be read and understood
  3. The presentation is read word-for-read by the presenter without providing context, insight, or offering a point of view
  4. The buyer is not addressed in any meaningful way.  There is no attempt to “put the buyer” into the picture.
  5. There are no clear “next steps” or call to action that advances the purpose of the presentation.

So, buyers are forced to wonder how to apply the information offered to their own situations and essentially link the seller or seller’s organization’s capabilities to their own needs without the benefit of the seller connecting the dots in the presentation.

Current Example

I am currently working with a very progressive executive who recognizes that the existing template being used by the sales force (of about 25 sales people calling on national accounts, large regional accounts, and smaller progressive accounts) are becoming less effective at convincing these accounts to increase their order size with the company.  Competitors offering lower priced (and lesser quality) products are encroaching on market share, unit volume, and total dollar sales of the executive’s company.

In working with this executive and his staff,  some of the key objectives we have collectively agreed upon are:

  • The importance of “telling a story” and not just listing facts, details, features, etc.  The presentations should have a theme, a purpose, and be very specific about answering how the buyer stands to gain from working with the company and their products.
  • Sharing how the company is different than competition.  Not just in a comparison of product, but in their methods, marketing strategy, customer service, and other aspects of corporate performance.
  • Explaining the following to the buyer:

                     – WHY it is important to act or take actions

                      – WHAT is to be gained, lost, avoided, pursued, etc.

                      – WHO is responsible for each step of the way

                       -  HOW the business will be impacted (the benefits)

A great place to start in learning how to present is with this video http://www.youtube.com/watch?v=BqcEYTM7ogE.  There are numerous books and videos on the subject, but the importance of answering the questions above cannot be over-enphasized.  Talking about oneself without addressing the needs of the customer will surely lead to eyelids fluttering and snoring soon to follow.

Categories: General
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