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Growth Ideas

March 31, 2016 by Stephen Dancey 2 Comments

Grabbing Coffee? How to Jolt Your Small Business

Grabbing Coffee Image

I read this article recently at Observer called “How to Politely Turn Down People Who Want to ‘Grab Coffee Sometime.’” The author, Noah Kagan, of AppSumo, lays out his methods for avoiding in-person interactions at all costs.

My motto has always been to do what works for you in, especially in marketing and networking, and that takes many forms. To date I have tried these methods: membership in frequently meeting groups, attendance at social style events, maintaining a website, blogging, all styles of social media, and one hour get-to-know-you meetings with other professionals.

And while avoidance may work for Mr. Kagan, most people are not the Chief Sumo of a national brand. Mr. Kagan assumes a one-way relationship, in which the other party is incapable of bringing anything to the table. Although, confusingly, he uses group meetings successfully.

The world in which I live is sustained by these very types of personal meetings. For a small business owner who works with other small business owners, the connection is a key. Most importantly, I open as many doors as I can for others, without the need to expect reciprocity. I know that in turn, doors will be opened for me as well.

Remember, you never know who knows the next important contact for you! Meet people, build a network, and be a reliable resource for your connections.

While I appreciate that Mr. Kagan has found a system that works for him in efficiently managing his time, I would encourage him to open his eyes to the possibility of a positive experience.

Now, if you’ll excuse me, I need another cup.

Filed Under: Growth Ideas Tagged With: Networking

December 29, 2015 by Stephen Dancey Leave a Comment

Wrapping Up Your Customers

Wrapping Up Your Customers Image

As the Christmas and holiday season comes to an end, and we look to the New Year, I was thinking about the parallels for how businesses interact with their customers.

My social media feed was filled with friends and family staying up to all hours of the night wrapping presents, and then being exhausted on Christmas day. This was done for the enjoyment of their children and the perpetuation of the myth (spoiler alert!) of Santa Claus. Parents go the extra mile for their most important relationships, and wouldn’t have it any other way!

In business, you similarly go the extra mile for your most important relationships, providing an experience to cultivate loyalty. And just as parents vary the experience for different aged kids, a business should tailor the engagement to customers in different stages. When a customer is new to you, it is critical to show your value, provide a timely service, and set your name apart from the competition. As customers grow, showing that you can grow with them and continue to provide a high level of service becomes paramount. After all, it is much more costly to find a new customer than to retain an existing one.

The alternative is one-and-done customers, with no brand loyalty. This results in a constant advertising and lead generation phase and a race to the bottom of discounts and gimmicks.

Do right by your customers, and they’ll do right by you. Here’s to a great 2016!

 

Photo courtesy of the Huffington Post.

Filed Under: Customer Loyalty, Growth Ideas Tagged With: Customer Retention, New Year

January 22, 2015 by Stephen Dancey Leave a Comment

Productivity and The Mighty Mighty Bosstones

Productivity Image

How can I be more productive? It’s a question on everyone’s mind. Most current ideas about productivity involve changing everything you do, using the latest smartphone app, or outsourcing your administrative tasks.

While there is certainly value in some of those ideas, most people can start by examining what they already know about themselves. This introspection will help target how you can be the most productive.

Each person will be different, but when I try to focus my efforts, I look at these three factors:

Time: Night owl? Early bird? Afternoon delight? (Well, maybe not that last one.) I am more focused at night, and often my strokes of creativity happen well after dark. Knowing this, I plan my workday and sleep schedule to use that to my advantage. I try to schedule time for specific work into my calendar so I know I’ll have the dedicated time to focus on specific work.

Environment: Library quiet? Or coffee shop background noise? Music, or not? Bright lights or the sole glow (not Soul Glo) of a computer screen? My go-to is bright lights and music. I go crazy in library quiet (the result of growing up with five siblings!), and can’t focus with the activity of a coffee shop. When I perform administrative tasks, I listen to podcasts. When I’m responding to emails or writing, I prefer upbeat music with lyrics. Right now, I’m listening to The Mighty Mighty Bosstones “A Jackknife to a Swan“. When I really need to focus, I play some calm jazz or classical music with no lyrics.

Idea Generation: Shower, driving, or pillow? These are three locations or activities that seem to get my creative juices bubbling. We can’t control when an idea strikes, but we can make sure we don’t lose the idea. I use pneumonic devices to remember ideas that hit me in the shower. I use the voice recorder app on my phone while driving. And I keep my phone and a notepad and pen on my nightstand to quickly jot down any idea that comes right before bed.

By understanding how these factors support or limit your own productivity, you’ll be able to maximize your capacity to do creative, focused, and shareable work.

What did I miss? What helps you be more productive?

 

Album Cover Art courtesy of www.bosstonesmusic.com

Filed Under: Growth Ideas, Productivity Tagged With: Bosstones

October 19, 2014 by Stephen Dancey Leave a Comment

Growth Metrics and Employee Measurement

As business owner’s strive to grow a profitable company, metrics and measurement are critical aspects of that growth. Employees need to be measured for quality of work accountability and incentive calculations. Companies need to be measured to set goals and plan for the future.

In a recent article for ESPN The Magazine, Pablo S. Torre and Tom Haberstroh discuss the future of metrics for the NBA: Biometrics. We see here how a organization with financial resources looks to optimize their resources by using blood samples, sleep studies, and nutritional habits, among others, to maximize the performance of their athletes. (I’ll leave the ethical question of how much personal data an employer should have access to for a different discussion).

For any organization, measurement is key. A manufacturer needs to know his production data. A salesman needs to know his sales history. It stands to reason that a sports team would optimize their most important asset: their players.

 

Filed Under: Employee Relations, Growth Ideas Tagged With: Biometrics, NBA

August 31, 2014 by Stephen Dancey Leave a Comment

Four Ways to Grow Your Business During Vacation Times

Vacation Image

School’s out for summer! Thanksgiving weekend! Holiday vacation! Spring break!

To some business owners, these times are synonymous with a slow down. But do they have to be? Can these slow times be an opportunity for growth? These are great times to focus on the four core areas of your business that make up our VICE Analysis™ (Vendors, Inventory, Customers, Employees).

VENDORS– Ask vendors to come to your office. Most will jump at the chance to get face time with an important customer. They can offer product demos, discuss new R&D, and get a better sense of how they can service your company’s needs. It is also a prime time to renegotiate your pricing, terms, and exclusivity agreement with the vendor.

INVENTORY– Do a spot check on inventory. Give non-warehouse employees a detailed tour of the warehouse and those hard-to-sell items, and ask for their feedback and ideas on how to move them.

CUSTOMERS– Reach out to your best customers and offer to visit them, buy them lunch, and try to solve more problems for them. Offer them a deep discount to keep sales up. Propose something unique to help them grow.

EMPLOYEES-If everyone is gone, how can anything get done? Pick a traditionally heavy vacation week and black it out well in advance so your whole team is at the office. “Shut down” the company to the public and have a targeted, focused week on the strategy and projects that you’ve been putting off. Focus on the back burner R&D and fast-track feedback to end with a focused project with timeline and launch date at the end of the week. This can be a great time for interdepartmental bonding and teamwork for employees who don’t often collaborate. The teamwork is invaluable for camaraderie, employee relations, and culture maintenance, which can suffer as a company grows.

By focusing on these areas, you can continue to grow your company without losing momentum during traditional vacation times. If those aren’t feasible for you, try cleaning the office. Have an end of week BBQ. Do a team building charitable outing. Don’t just let the days tick by!

And there is never a bad time to maintain your network. Have coffee with an old contact. Bring ideas as to how you can help their business grow. Continue to get fresh perspectives and you’ll be amazed at how it can clarify your own ideas.

How do you keep the ball rolling during vacation times?

Filed Under: Growth Ideas, VICE Analysis™ Tagged With: Vacation

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