I'm following a new blog called "Company Founder"...

 

You need to check out this blog if you are interested in what the tag line says - "Peak Performance for Entrepreneurs and Leaders". www.companyfounder.com  The last post is called "The Future is Bright. Focus on Solutions."  For many business leaders, this should be a mantra for the new year.  I wholeheartedly recommend that this be cut out and taped to your bathroom mirror.  Good stuff to be reminded of every day.

Yes, he's gainfully employed...

Yes, you may have heard that I got a full-time job.  After more than a year of working part-time, taking the occasional consulting gig and doing some tour guiding to fun places like Seattle and San Francisco, I have accepted an offer to be the manager of the Business Resource Innovation Center in Carson City, NV.  This is a very exciting opportunity for me to be part of the solution in helping to create jobs in Northern Nevada.  My initial focus will be to provide one-on-one business counseling as well as business curriculum development.  Mentoring entrepreneurs will also be a big part of my efforts.

The BRIC is a one-stop shop for many business services in Carson City.  In addition to housing the business branch of the library and business development, there are many other city departments that call the BRIC home.  Business licensing, the permit center and the engineering, planning and building departments all can be found in one place just north of city hall.  The overarching goal of the BRIC is to support and nurture business activity in Carson City and the surrounding region.  And in the near future, there will be additional programs that will help new businesses get off the ground as well as help existing businesses reach new levels.

More exciting things to come!  I must say that I can't wait to start helping and inspiring folks to make a big impact on the community.

Budgeting, Your Marketing Plan and the New Fiscal Year

Yes, it is budget time for those of you who have your fiscal year the same as the calendar year.  Some take this process a little more seriously than others.  As one of my professors from graduate school said, “It all depends.”

If your business is relatively stable and has minimal impact from the external environment, then the annual budgeting process is probably pretty simple (don't we all wish we could say this!).  And if your business is in the start-up phase or has a volatile competitive market, you may have extensive meetings with others in your organization in order to get as much input as possible into your plan for next year.  Or you may be a public company and there are a whole different set of rules for developing plans and the disclosures to the public that are required.

-from B2Bmarketinginsider.com-

The bottom line is that your marketing plan will dictate much of the financial planning for your organization.  Yes, the number crunchers are going to have input on how interest rates and depreciation schedules will affect your income statement, but it’s the marketers and sales staff that have the real influence planning for future revenues.  That is why all businesses need look at the fundamentals of marketing in one way or another to properly plan for the coming year.

The essence of all marketing plans focus on what is affectionately called the 4 P’s.  They are product (or service), price, promotion and place (or distribution). 

Product is simply what you are selling.  Price is what you are charging for the product.  Promotion includes all the advertising, social media activity, public relations and promotions.  Place (or distribution) focuses on the cost of getting your product and your customer together.  Marketing plans should also focus on the affect of competition and the external environment on each of the 4 P’s. 

The common mistake when creating or changing your marketing plan is that it does not have enough detail.  You also need to identify the market in which your products are sold.  There was a specialty retail company that first started out by saying that they were in the candle market.  Then they realized that they were in the bigger home décor market.  Then after much research they realized that they were in the even bigger gift market.  Look to the behavior of your customers to find out how they are using your product and that will give you a hint as to how you should position what you are selling.  

When you review your price structure, ask yourself if any customer questions have come up.  How do your prospects that don’t buy react to your prices?  Do you offer volume or promotional discounts?  Price is the determining factor for the customer’s perceived value of everything that you are providing.  In today’s economy, most people are motivated to find the best possible price and value.  Only if you have the luxury of being a monopoly do you have less concern about price.  And even monopolies have to consider the cost of barriers to entry into their markets.  When considering price, market share becomes a factor.  The more you reduce prices, you most likely will gain market share yet reduce profitability.  It’s a tough balancing act between your profitability and gaining customers.  And this all plays into your market strategy.  Are you Mercedes or are you Toyota?  Either strategy will have huge implications on your pricing.

Many people consider that the meat of their marketing plan is what is really their promotional plan.  Remember that your promotions are designed for one thing – to get people interested in what you have to offer.  Once they walk in the store, make that phone call, check out the website or send an e-mail, it is up to the remaining parts of the marketing plan and your promise to show value.  Although you may spend a good deal of time considering the many alternatives to getting your message out into the firmament, you need to balance your efforts with the other very important parts of your overall marketing plan.

Place or distribution focuses on how you get your product or service connected to your customer.  Does it require a vast distribution network and what is the cost of that network?  How do prospective customers get to your website?  Or do you drive a truck full of produce down to the Farmer’s Market?  You may have wholesale and retail customers that take delivery in completely different ways.  This part of the marketing plan is dedicated to making sure that you are being most cost efficient in getting the right goods to the right customers.

With the holiday shopping season just around the corner, be looking here for a new post about a different way to look at retail and the components that can determine success in the retail universe.

ProNet's best speaker ever - Ian Hill

Ian Hill

Now those of you that know me, know that I don't throw around words like "best ever" without having something to back it up.  In my book, we all have room for improvement, so unless you can walk on water like a guy did around 2000 years ago, you aren't getting a "10" from me.  That being said, Mr. Hill knocked everyone's socks off at yesterday's Monday morning general meeting at ProNet.  Not only does he come with tons of street cred locally in Northern Nevada but he has also been recognized for his philanthropic work in Canada.  Here a link to learn more.

So what was his message to a group of about 100 unemployed professionals in Reno?  He had a straightforward style that got your attention right away saying, "I'm not here to waste my time."  We all understood right away that this was going to be special.  I'm sure that Mr. Hill has many talks up his sleeve and he certainly knew who his audience was.  The main theme yesterday was transformation.  He started at the macro level of the world and society and brought it right down how it was affecting each and every person in the room.

First, he asked us questions about ourselves.  "Do you posses the leadership skills for today?"  "Do you possess the leadership competencies that the times require?"  The crux was that as the world is changing around us, we have to change.  The way of being successful in the past is not necessarily how you will be successful in the future.  Analysis was the first place to start.  He asked the group to come up with places where transformation was occurring in our society.

• First off was the fundamental change in technology.  This was quite obvious to all yet needed to be said.
• The next focus was leadership styles.  Autocratic leadership styles of the past will not work with a new generation of skilled workers.  Participatory leadership, where everyone is part of the decision process, is what is required in a multi-generational workplace.  He asked if the patterns of the past were serving us well.  This question hit us smack in the forehead, creating a wondering that if what worked in the past wasn't going to work in the future, what will?  
• Next was understanding the conduit of communication of the day.  With all the focus on social media, he took a different tack.  Communication is broken down into the spoken, written and virtual word.  While technology will always influence how the message is delivered (see: radio), the key will always be to deliver a clear, concise and understandable message.  Good stuff!
• Globalization and the interconnectivity of the today's world has created a monumental shift in how we think and how we conduct commerce.  It's not about grandma's corner store anymore.

While I can't get all the information from his talk in this post, he left us with key touchstones to think about in our job search:

• Be a systems thinker.  Understand the big picture.  Look to see how what you do influences how your company operates.
• Do the analysis that's required to anticipate what will happen.
• Crisis is opportunity.  Those that are looking to the coming year and what will be in crisis will afford an opportunity to succeed and flourish.  
• Be an agent of change.  Being willing to change yourself and change your environment.  Not that these are easy, but you must create a process for change.  You will know you are doing this when you ask for help because you cannot do it all yourself.
• Educate yourself.  Be on a path of continued learning, understanding, action, accountability and analysis.

He left us with one piece of advice.  Volunteer!  If you are not doing this one thing in your job search, then you are a fool.  His words, not mine, but I wholeheartedly agree.  And we were extremely lucky to have an hour of his time.  Thanks to Mr. Hill and ProNet for a great way to start the week!

Want to travel to the Pacific Northwest? I was just there...

...and had a great time.  As tour director for a gang of folks from the Reno area, I got the chance to see some wonderful sights in Tacoma, Leavenworth and Seattle.  Having traveled to the region in the past, I had a general idea of what was there to see, but with our local bus driver, Michael Bailey, we all got a terrific amount of insight into the area and some of the special sites and attractions.

Tacoma's Union Station

First, I have to say this: if the weather wasn't so cloudy/rainy/wet, I could see myself living in Tacoma.  The efforts that have been made to preserve buildings downtown has been more than commendable.  The dedication to look and feel gives the downtown area a flow especially when you add in the free light rail that keeps that flow moving.  Then you have the imprint of Dale Chihuly and glass art all over the city.  Many cities and towns look for that distinction that separates them and Tacoma has certainly accomplished that.  A must visit is to the Museum of Glass.  With the hot shop where artists and artisans can create in front of the public (watch the hot shop live) coupled with stunning and whimsical galleries, this museum is a must see in the area.

On the way to tap the keg!

Another town that has made an all-in commitment is the Bavarian-style town of Leavenworth.  We were there for one weekend of Octoberfest and the whole town revels in their recreation of southern Germany.  From the gift shops to the gazebo in the center of town to the beer garden, Leavenworth is a destination not to be missed, especially in October.  And the beer is pretty good too - it should be because nearly all of it is imported from Germany.

Museum of Flight

And last but not least, Seattle.  The anchor of the Pacific Northwest has much to see and do.  Three sites that are on the must-see list: the Space Needle, Pike Place and the Museum of Flight.  Even if the weather is cloudy and rainy (like it was the only time on this trip), riding the elevator to the observation deck is a must, even for those with a little skittishness about heights.  Do it just to say you did it.  The views even on a cloudy day are magnificent.  And make sure that you read up on some history before you get there.  Pike's is a farmer's market on steroids.  While many communities have created this quintessential American event, Pike's is the mother lode.  Not only can you talk to many owners behind the stall counters, you also can get extremely fresh, local produce and seafood.  And for the Starbucks fans, you can visit the #1 store (and you can buy coffee beans that are specially roasted for this store only).  And for all the plane enthusiasts out there, how would you like to step aboard a British Airways Concorde?  Here you can do this as well as sit in a cockpit mockup of an F-18 and a SR-71.  Get a feel for what it is like for pilots flying these amazing accomplishments in aeronautical technology.  Plan on a whole day here because there is just so much to see.

And there is much more to see than I am mentioning here.  Dear friends have been going to the Hood Canal area for years during the summer.  The Olympic Peninsula is otherworldly.  And Mt. Ranier and Mt. St. Helens can take your breath away.  So next time when you are considering a vacation spot that can tickle many a fancy, think about the home of the apple, Washington.

New baseball stat - The Triple Threat

Sorry it's been a while since I've posted anything here.  Been a bit crazy with networking and such. 

So have you ever thought of something and just sent an email up the flagpole to see if anyone is paying attention?  Well I've had this idea for a while and thought I'd send a note to Major League Baseball and ESPN.  Here's the premise: It's been since 1967 that anyone has won the Triple Crown in baseball.  Carl Yastrzemski was the last one to do it.  The last National Leaguer to do it was Joe Medwick in 1937!  (Yes, there is a pitching triple crown but it's just not the same, sorry...) 

Well, I thought about running a little statistics using Batting Average, Home Runs and Runs Batted In.  I took the top ten in the National League in 2010 in each category, assigned a 1 to the player that led the category and then divided the others' results by the leader's total.  (And I used the National League only because I'm a purist when it comes to hitting - I just can't stand the designated hitter rule.)  St. Louis' Albert Pujols would have been last year's Triple Threat.  He led the league in Home Runs (give him a 1), RBI's (give him another 1) and his average at .312 was 92.8% of Carlos Gonzales' league leading batting average of .336.  With a total of 2.928, Pujols outranked Cincinnati's Joey Votto's total score of 2.803.

Wouldn't this be cool to give out a Triple Threat award every year instead of waiting for someone to achieve what hasn't been done in 44 years?  And isn't this what baseball is all about, lots of fun statistics.  When I did this a week ago for 2011 to date, Matt Kemp was ahead of Prince Fielder and Pujols.

If you think that this is a good idea, pass this on to the powers that be at MLB and ESPN. 

Webinar review: Social Media Analytics by Awareness, Inc.

Earlier today Awareness, Inc. offered a webinar called "Social Media Analytics: Effective Tools for Building, Interpreting, and Using Metrics".  After a bit of technical difficulties (a bit surprising since previous webinars have been smooth as silk) and a bit of general orientation to the subject (understanding that the attendees must have had a wide range of social media experience), there were some good tidbits of information (which is all most of us should hope for when attending any kind of training offering - especially when they are free).

Marshall Spooner was the main draw with his book of the same name as the webinar title above.  He did demonstrate a wide range of knowledge of social media, especially in the question and answer phase at the end of the webinar.  I will say first that in such a fast moving space as social media, to produce a book is a difficult prospect at best.  While much of the basics may be relevant for a short period of time, there is no doubt that books cannot be written fast enough to keep up.  So based on that, this blogger appreciates Mr. Spooner's attempt at describing the current state of social media analytics.

Aside from the basic information about using Google Analytics to track traffic and aggregators such as the product by the webinar's host, there were a couple of new things that he brought up. Shareaholic has a great browser add-on that makes sharing links much easier across social media applications.  Tynt.com has a unique measuring tool called an Interest Graph.  It is a visual representation of the online network of people that share interests with you on the Web.  And then of course there are the aggregator tools such as the Hub from Awareness, Inc., the webinar's sponsor, as well as Radian6, Alterian, Synthesio Unity and Socialflow.com.  While each of these has their strengths and weaknesses, it is highly recommended here that you do your due diligence on each option to see what will work for you.  If you are in an organization where coordination and collaboration of social media activity is a must, then these are the places to start your investigation into this space. 

I will say that while this webinar was a big disorganized up front and a bit choppy on the flow of the presentation, I did get something out of this one.  And one other disappointing note: the redirect to Amazon.com when exiting the webinar.  It just seemed a bit pushy.  I can imagine that there must be a better way to give attendees the choice to go to Amazon on their own.  After all, isn't social media all about opting IN and not being soullessly sold a product?