Richard


Posted by Richard

The power of WHY to consumers

Will they BUY? 

In the old days people used to buy what companies did, what they made, where they sold it and bought what they promoted. That was the age of big marketing and sales budgets, when big adverts worked, by driving demand through pushing products down channels, offering promotion and celebrity endorsement to generate business.

The age of the Unique Selling Proposition ‘we are special because….. so you will buy’! It was the 1980 and 1990’s so the world did as it was told: “we make what you want because we tell you want you want because we know about your needs”. This relied upon trust in a brand by the public, which in a pre-internet world gave the control of information to the brands.

Trust, the intangible combination of character and competence which all successful brands must develop and sustain is mad cup of a whole series of elements itemised below. Theses components are essential characteristics which purchasers expect their brand to portray in all their activities.

Trust in business model by Richard Gourlay

Trust is why people buy from people in Business, the customer BUYs the values and value a brand promises, they buy your trust.

 

Honest is essential

Then ethics came into play, as the age of information came into play in the early years of the new millennium. As the internet began its infancy, the power of globalisation was laid bare by the internet. People asked more about how companies did things? Where were products sourced and how became important. Why were the premium footballs, such as those which David Beckham kicked, being made by blind children in India for a few rupees. Why were the clothes models wore being made in sweat shops where workers earned less than for a dollar a day?

The internet changed how the media could communicate, explaining how household names operated and could afford those huge marketing budgets. This forced companies to change their practises (and their internal policies) by educating and fighting back against the likes of Naomi Wolfs’ No Logo expose for example.  The brands who recognised that they could no longer hide their activities became more open and honest and developed trust, while those which did not, suffered public shaming and demise.

How business operated mattered, and so in response companies upped their awareness of their social impact and visibility through corporate social responsibility. How people did things mattered not just when the likes of Bhopal and Exxon Valdez disasters struck, but in everyday life.

Fair-trade has become a household name in consumer goods, with high street stores vying for credibility of having an ethical policy, supporting local goods and having transparent policies of how they operate. This gives more confidence but leaves companies open to further scrutiny and often to unsatisfactory answers to vital key questions, not at least within developing countries, who are now the fastest growing emerging markets for many brands.

Why; should I buy from you?

The biggest question which consumers and business now asks people is why businesses are doing these things.  Everyone has become so empowered with information sources that people want to buy the WHY, not the what. Buyers want to understand the ethics of the company and importantly the people behind the decisions it takes. Customers want to know that these decisions accurately reflect the real cultural and values that company has, not just the marketing hype, which the brand portrays. Today this is the real power of the internet.

What’s the real purpose of the company, who and what is driving it and what does it really believe in and stand for. No longer is a small donation to a local charity enough to say it supports the community, customers want to know how much, who gets involved, is it company wide and deep or just a year-end tax saving.

What do the decision makers really value, their life story, their values really matter, and how they treat all their people now determines as much if not more in buyers minds than the value the products communicate.

In fact the world has changed completely, confidence comes not from what you say but why you are saying it. The educated and informed world means that it’s not just politicians who have seen their reputation tarnished but any business in any sector who does not explain it why factor.

No matter what sector you are in, understanding the still emerging power of the internet in sustaining your reputation is essential and never more so than in explaining why you are in business and why you matter.

Like to learn more, then contact us at Cowden Consulting or see our website or social media channels for more about Cowden Consulting:-

Website – Linked in – Twitter – Facebook – Blog

Our services: business planning, strategic planning, business development, strategic marketing, Return on Investment, director development, director mentoring.

Cowden Consulting works with business leaders throughout the UK.

Posted by Richard

Successful Leaders Plan Their Business

Business planning often gets a bad press, yet those who do sit down and plan their business are so much more focused, confident, and successful than those who float along with the economic tide.

Over the past ten years as a strategic planner we’ve worked with hundreds of business owners and seen how those that create a plan and implement it, do so much better then those owners who try aimlessly lead their business on a wing, a prayer or a dream.

Business planning in business is an important part defining success

According the latest BERR report, Small and Medium-sized Enterprises (SME’s) together accounted for 99.9 per cent of all enterprises, 59.8 per cent of private sector employment and 49.0 per cent of private sector turnover. SME’s really do matter to the British economy, and yet they receive little effective support from Government agencies despite being the backbone of the economy, employment, and innovation.

Why Businesses Don’t Plan

“If you don’t make things happen, things will happen to you” Lanes Company

Having questioned business owners over the last decade the reasons why owners have not put a plan in place and executed it, the excuses range from not having the skills, make the time, or have the conviction of their thoughts. The number of owners  who know they should have a plan ‘we had one when we first started, but have not looked at it since’ is a common theme, as is being too busy fire fighting to realise that preventing fires starting is the best way to not have to fight them.

Do business owners not see the value in developing a plan for their business? On the other hand, is the classic perception for business owners that frenetically staying alive is seen as being successful? For many not knowing how to plan is one major reason why people haven’t and don’t plan their business. Where to start and how to know what they are trying to achieve immediately puts people off planning. Business planning is also often at fault, the most common reason people have a plan is to secure funding from banks, that’s when banks did fund business start-ups (now they just offer a high interest mortgage backed by the Government). Therefore, once people have received funding they no longer see the main advantages of planning (and the real advantages are not around money).

business planning for leaders to ensure success by Richard Gourlay

Business planning does not happen by accident

Business Planning Skills – Have some GOALS

“The discipline of writing something down is the first step toward making it happen.” – Lee Iacocca

Planning takes time, resources, (grey stuff) not the executive trip to some exotic away weekend planning, but some time allocated to review where you are as a business, how your sector and industry are performing and what you want to achieve in the future. Whether it is looking at the next year or planning the next five years, everyone who owns or directs a business is responsible for setting its direction. However, just having a plan in your head, with the classic defence of ‘its flexible at the moment’ is either ducking the responsibility or deluding themselves.

The only way to have a plan rather than a dream is to have it written down, turned (if it is not already) into an action plan which is resourced and owned by someone to deliver. Only then do businesses go forward in a deliberate purposeful way. Only then do the right things happen because you made them happen and only then can everyone, employees, shareholders, customers, channel partners and even other halves, see your dream, share your dream, deliver your dream. That’s when planning works. It is a written document, which lives within your company, and it doesn’t matter if you are a one-man (woman) band or running a multi-national Plc.

What Business Planning Delivers

“In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it.” – Robert Heinlein
focus in business for leaders to focus on

Things that matter are having a business plan that works for your business as a leader

Planning provides focus in strategic direction, its provides clarity of where the business is and where it is going as well as a vehicle for getting from where you are to where you want to be. Planning time provides time to reflect on personal and corporate goals, time to share and channel new ideas while reviewing existing activities.

Planning in a structured and open format develops clarity of purpose and a clear understanding of the organisational and individual skills people have and can use to leverage advantage. Bringing in outside views widens the planning horizon, which can drive businesses forward, which is why many successful businesses use non-executive directors or outside specialists to help drive their business forward. That is one reason why so many people volunteer to get support from people like the Dragons from Dragon’s Den, they are looking for expertise and advice which gives them confidence to go forward as much as the money.

British business owners need to plan, more often to keep being successful. Good planning creates and sees opportunities as owners and directors lift their heads up from the daily grindstone. How often should you plan? Well it all depends on the speed of your market’s evolution, but even stable and stagnant businesses should review their business every year, and not just a light dusting (add ten percent and change the year) but strategically review what and how well they are doing.

It is only by looking for fresh opportunities and how to take best advantage of them, by planning your business around those opportunities that companies successfully compete in today’s business environment.

Business Planning is not a four letter word

“An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage” Jack Welch

The old adage, compete or get beat, is more relevant today than it has ever been. The rise of the Internet means there are no secrets, competitive advantage lies with those who can see an opportunity and adapt fastest to take advantage of it. Those owners and directors who see and go for opportunities become the stronger ones, and that is where good strategic business planning provides it real advantage.

By orientating a company to where it can retain better, win new and develop existing customers companies that plan their success out compete in their sector, and equally importantly have everyone focused on where they are going. From the smallest to the biggest every business needs to have a plan that is written down, owned and guiding your business in the direction you want it to go.

Good Luck

Richard Gourlay

 

@richardgourlay

www.cowdenconsulting.com

Posted by Richard

Values matter in BUSINESS more than ever

Values matter in BUSINESS more than ever

Values must be transparent

The way you provide your product or service and to whom, says more about you than how much business you do. Being big in a highly segmented world is no longer the determination of success. How you do your business now determines your current credibility and future success. Credibility is as much about your values in becoming successful as about the success you have. Mohamed Al-Fayed for example, despite buying Harrods, never shook off questions about his background.

Your values as an organisation as demonstrated by everyone inside your organisation matter to both existing and potential customers in choosing to do business with you. People have choices and they can now exercise them more freely than ever before, and that means customers can access information instantly to make choices that are more informed. Ikea’s staff misinforming undercover Times reporters about their sustainable and certified sourced products at a number of shops are one symptom of Ikea’s rapid growth boardroom culture.

Values Must Live the Moment

Almost everything in life is in real-time and instantly communicated to circles of influence and beyond. A restaurant having  bad night can have a poor reputation before the starter has even been cleared away as customers post live feed back to sites such as Qype or Trip Advisor . Therefore, before the waiter, maitre d’ or chef knows what’s happening the world outside already does by Twitter and Facebook and are cancelling their reservations in their droves.

Why clean lavatories matter?

The old adage that if you want to know how clean the restaurant kitchen is, inspect the lavatories, because they tell you how the restaurant values cleanliness, is a great example of modern customer awareness. Do you live your values or just post them on your website? Is the question customers want to know in establishing and experiencing trust with you and your brand.

Rail companies learning fast

The recent story of the man on the train talking too loudly causing enraged customers to Tweet  complaints about his behaviour which was picked up by a duty manager hundreds of miles away who then contacted staff on the train to track down the loud caller and asked him to quieted down.
This story is very much testimony to the growing demands of customer expectations, immediate online response, not waiting for passing train staff to react. This story is part of the reputation shift that train companies are actively pursuing.
Posted by Richard

What Makes a Great Brand (Part 2)

What Makes a Great Brand (Part 2)
Being clear and precise is also important in the company’s messages for a brand to succeed, a strong undiluted brand message must enthuse internally but must also consistently connect with customers through touch points, look at Innocent, Dorset Cereals or Apple as classic examples of touch point. They also demonstrate a clear story delivered with passion about who they are what they do and why they matter. This focused and consistent message is not just a marketing message but an ingrained set of values which consumers buy into with passion. These brands not only position themselves as premium players in their fields and earn more but they also continuously find new ways to spread their key messages to customers, they have a clear brand strategy to achieve it.
Everyone Lives the Brand
Another vital aspect of any brand success is that the people within that brand demonstrate what they preach, they live that lifestyle, support that brand and contribute to its success. It is their lifestyle, it is a part of the way they and their brand do business.
Great brands go beyond the brand to understand its real value to existing customers but also to tomorrow’s customers.  Whether it is a family run local shop or a global supermarket chain great brands position themselves so they develop and hold a market position to develop long-term success.
Great brands also develop their own uniqueness, not just the product or service but the whole package is how we do it around here. There needs to be not only consistency but the brand hand writing and value on how they do it. The best brands always develop singular simple signals for customers, cutting through jargon to create clarity without patronisation.
For brands to succeed in today’s global markets these golden rules have never been more important as consumers have never had so much information, but if you follow these simple rules of brand success you can develop and maintain a great brand.
If you want to develop your company’s brand and are looking for some advice on developing your company, its marketing, its sustainable competitive advantage then contact us at Cowden Consulting to see how we can assist you, or read more about us in this blog or at Cowden Consulting.
Posted by Richard

What Makes a Great Brand (Part 1)

What Makes a Great Brand (Part 1)
Despite what marketing people passionately believe most people don’t think about brands, they just get on with their lives. The coffee they buy, the supermarket they go to and petrol station they visit happen almost by accident. In Britain today we are too busy to think through these everyday inconsequential purchases, focused on saving time, not forgetting something or rushing from place to place on a tight deadline. So do brands matter and if so why and how?
Consumer Choice
Let’s start with the basics, the consumer has choices, endless choices if they choose to use them, but in many everyday cases as in my examples above, the consumer sacrifices those choices for simple expedience. The inability to see (or value) brand differentiation, between Starbucks and Costa, between Tesco and Morrisons between BP and Shell, and yet they each fight for space in consumers minds through tiny differences which if we stop and think about do actually exist and we the consumer do actively value.
Despite what marketing people passionately believe most people don’t think about brands, they just get on with their lives. The coffee they buy, the supermarket they go to and petrol station they visit happen almost by accident. In life today we are too busy to think through these everyday inconsequential purchases, focused on saving time, not forgetting something or rushing from place to place on a tight deadline. So do brands matter and if so why and how?
 
Perception is Everything
Consumer choice is therefore the perception of the brand we hold at the time of making that purchasing choice. It is the conscious decision consumers make based upon how they feel about the brand at the time they choose to consume that product or service. So a brand needs to be more than just an image, more than just a recognisable label and more than just a mission statement. What makes a great brand is the sustained feelings which it provides its customers.  That brand presence, the perception in someone’s mind is an accumulation of all the marketing elements which are planned into the deliver of that product and service to the customer.  Often just called the extended marketing mix (the 7P’s) which define the areas of proactive marketing which integrate together and support any brand from Poundland to Rolls Royce.
A brand through is also more than cold marketing elements pulled together, it is also the feeling and values which underpin any brand. Its culture and ethos coupled, codified and defined by its leadership are essential elements in creating and sustaining any brand. When you are thinking about a brand, its not just the branding, it is so much more and it must all start with the customer.
Posted by Richard

Where Does Tomorrows Growth Come From

Where Does Tomorrows Growth Come From

Where does tomorrows business growth come from explains why it is important for leadership to use business planning tools to effectively plan their growth. Being successful in business is all about seeing the bigger picture and understanding future growth.
See video: www.cowdenconsulting.co.uk

Posted by Richard

Strategic Planning Workshop

Strategic Planning Workshop

Successful business planning is about developing your strategic plan for your business based upon proven business development tools. The Strategic Planning Workshop pulls these together into a single process, which takes the guesswork out of your business success.Taking the guess work out of your business success is a step-by-step process which develops business owners skills to strategically plan their business to take advantage of emerging markets, emerging trends, develop and launch new products.Strategic planning also enables companies to make structurally improvements to their business to improve its profitability, reduce costs and enhance productivity.

Strategic planning workshop is a proven method of developing and implementing success see www.cowdenconsulting.com

Slideshare of Strategic Planning Workshop (click to open).

Posted by Richard

Leadership is all about VISION

Leadership IS all about Vision

Leadership is about vision, great leadership is about planning your business using business planning tools to match their ambitions to the opportunities in their market, using tried and tested planning tools.

Successful business owners step back to work on their business not in their business. Looking at where they are going and why. What are the opportunities within your market and sector over the next few years. Business Planning is a process of assessing options using tried and tested business planning tools, which provide robust and accurate options for business owners to grow their business successful.

Leadership is all about VISION from Richard Gourlay

Posted by Richard

Content Strategy: The future of marketing

The future of marketing is all about inbound marketing: Content strategy
 
 
 
 
If you can see a trend you have missed it!
In a world of continual change seeing what is happening is often difficult to understand until the paradigm shift has occurred. Many companies are struggling to stay ahead or even in the game of online marketing. Many companies are moving towards online marketing content strategy or as marketing people call it inbound marketing. This major shift in culture and one needs to be fully understood.
 
I have just had an old-fashioned marketing communication from a well-known brand, asking me to make an immediate purchase offering me a FREE upgrade for a new phone, my automatic response is not to be interested, at all because they have not demonstrated that they understand my specific needs. That made me thinks and write this article to explain why in today’s online world that old marketing technique is now as un-effective as a double glazing salesman offering me 50% off!
 
It’s a complete shift not just an add-on
In a world where everyone is online all the time, the amount of information is drowning people, from Linkedin to Facebook and Twitter the rise of smart phone connectivity has promised much change to marketing but until recently only early adopters, high value and niche players could see what it meant to the marketing process.
 
 
 
Like many changes, it is not until the change becomes tangible does its impact become visual to many marketing departments that enables them to successfully influence a company’s marketing policy. This is considerably harder to convey when there is no tangible evidence of marketing results attributable to hard to track invisible marketing shift. Unlike the shift to direct marketing where direct connectivity between outcome and result can be seen through a transparent return on investment, online inbound marketing is struggling to demonstrate its effectiveness.
 
Pace is outstripping understanding
Currently content marketing relies heavily upon invisible and poorly understood online activities. Simply put, the rate of change is outstripping the knowledge base of the marketing industry, creating a gap between the understandings of marketing by decision makers. The routes causes of this is that not only are customers sourcing information in newer ways but the platform they are using, the Internet indexing is also changing ever faster, Goggle will make over 600 changes to way it scores content. Rapidly changing customer preferences, coupled with changing technologies and an ever changing platform results in the lack of certainty of what is working and why. By the time you’ve worked out what works it has already changed.
 
 
 
Content Strategy also creates confusion.   
Content strategy marketing process, one that now focuses on creating online and open platform engagement, online PULL; rather than internally controlled PUSH marketing methods, traditional marketers often struggle to understand the process let alone feel uncomfortable with the concept. This is not unreasonable, given the history of marketing in the last 50 years has always focused on the traditional pipeline of generating and then controlling customer decision-making, content marketing turns that on its head. People investing in inbound marketing are asked to spend money on losing control of the potential customer by letting them make an open decision about how and when they engage with your brand.
 
In the mid 1990’s I remember designing a website to support a brand. No one was interested until it was live and people could see something online. A director then said, “That’s great let’s print it off and send it to all our customers”    
 
Dialogue NOT monologue
The inbound marketing process is about generating an open dialogue, rather than a structured marketing process. It lets potentials, prospects and suspects move in and out of your control while they select you, rather than being controlled by you.
 
The Content Strategy Process
  1.  Listening – Online is now the first port of call for 78% of web users.
  2. Creating – Great content that answers need and demonstrates expertise.
  3. Engaging – Is about being talked about and developing a dialogue with audiences
  4. Transforming – Is about continual engagement, moving them from suspects to purchasers
  5. Growing – Requires creating perpetual momentum developing new and developing loyalty
 
Traditional marketing models of developing engagement such as AIDA are still highly valid but instead of just focusing on a immediate winning proposition through a grabbing hook, attach a liner and sink them in a simple linear model for winning customers. Content strategy marketing demands  multiple engagement tools which include cross referencing other parties creating competitive collaborative working to generate awareness, giving away FREE content in white papers coupled with fast and slow acquisition tools in decision making.
 

The strategy needs to be explained better

Moving to a content strategy is about moving from PUSH to PULL, not about the Internet platform, it is about understanding the importance of open unrestricted dialogue rather than material generation and in reality it is not just about the Internet although this is where its impact is being seen today, but equally will encompass every marketing platform and process. The growth of mobile technology will further the pace and realisation of content strategy.
Posted by Richard

Have you felt the full power of the Internet Tsunami?

Have you felt the full power of the Internet Tsunami?

Have you felt the full power Internet Tsunami?  
Has the world moved for you, or did you miss it? The world of business has shifted but many businesses don’t seem to have noticed the great shift in power away from companies to the customer.
We all see the impact of the Internet in every market sector, well above the growth of online shopping or the growth of smart phones and the online move of insurance and music online. While these shifts and the responding growths of new consumes are just beginning to be understood, this is just the proverbial tip of the iceberg.
The Great Paradigm Shift
As our understanding of this shifting paradigm slowly emerges and evolves. It takes time for its impact to be fully understood and its impacts to be really appreciated. In the same way as the impact of the introduction of domestic electricity, which subsequently facilitated the introduction of the radio, which spread communication, did in previous generations. So the rise in power of the Internet is more than just our ability to look stuff up and buy consumer goods online.
This paradigm shift has certain key features, which makes the rise of the Internet generation far more dramatic in its impact to business today.
Unlike many previous innovations, the move online has been done in an infinitely scalable way, making it financially accessible using technology which is therefore low cost and software which is build on open and shared platforms. Rather then being a premium service only open to the super rich, such as the introduction of the car or the television, which limited the accessibility of the technology to those who could afford it, the move online has been introduced to all levels of society.
A Global Movement
This global shift, supported by governments and industry to reach and penetrate all and every strata of society and on an almost global reach is a new global phenomenon creating a universal shift.
Whether in New Guinea or Newfoundland, you can get a 3G signal, with many countries like India and China just leapfrogged the copper wire landline systems of the 20th century through large parts of their country’s moving straight into the 21st century, avoiding unnecessary cost and rapidly accelerating progress throughout their country.  The Arab spring was not achieved by any three letter acronym news agency or Rupert Murdock’s media empire, but by new young mobile online generation who created, sustained and drove the rolling revolutions.
The result of the internet revolution is that the world has made a huge step forward almost overnight and that has changed more than just the way we buy some products, it has in fact changed the way we think, and act.  This universal overnight movement has also solved the adoption dilemma for new technology. For companies to achieve a launch of a new product or service they had to achieve certain volume and this can now be achieved without geographic boundaries and often bypassing traditional routes to market, achieving profit without having to invest huge amounts of capital in awareness marketing.
Empowered Intelligence
This paradigm shift has moved the way we think to such an extent that everything has changed. When in 1906 Admiral Sir John Fisher invented the Dreadnought in 1906, the Royal navy had 1,000 ships of the line, the Dreadnought made them all redundant overnight. Suddenly and globally, to be a superpower it was not the number of ships you had but how many Dreadnoughts you had and a new arms race had begun as every other battleship become redundant.
In the same way, the introduction of always available high speed broadband has made so much of business thinking redundant, not just in the collapse of use of directories such as yellow pages, dictionaries or our communication. Today people have empowered intelligence, the ability to become informed by scanning a QR code, or connecting to a highly rated source they can become more than informed, they can become actively empowered.
Networked Learning
The internet is now driving people to think and do things in different ways across many age and economic cohorts. Its not just the young buying music or consumers doing their shopping online, although both have delivered huge shifts in culture to these markets.  People’s first mental response to knowledge and decision making is now to click, look-up and become informed.
No-longer relying on our embedded historical mental heritage or through experts’ advice, people are now researching and networking their knowledge and our learning, widening knowledge and creating expert communities on almost every subject matter possible. For example to become an expert on social media you could do an online course or you could click onto Mashable and become an expert within hours. Anyone and everyone can become an expert, exposing consumer and business choice to new forces and opportunities.
You may have heard the old adage that there is more computer power in a simple watch today than on the Apollo 11 spacecraft which took man to the moon. People have at their finger tips more knowledge about companies than even the most informed company is aware off. Users groups, expert forums and review sites empower and drive decisions, in a far more effective way than traditional marketing channels can persuade customers.
In just in the same way that the Arctic Monkeys pioneered emerging through an online community following, rather than through the plugging and playlist approval to get on the radio. Today the same today is true of consumer both in consumer and business markets.
The power of the internet is yet to be fully understood. For some it has been like a Tsunami, just as a record shop or an insurance salesman. To many others though it is an unseen force, they know its there but not what or how it operates and effects their business. But it is and it will. The sooner business wakes up to these changes the better placed they will be to compete without feeling they have one hand behind their back.
Posted by Richard

The power of WHY to consumers

The power of WHY to consumers

Will they BUY?
In the old days people used to buy what companies did, what they made, where they sold it and bought what they promoted. That was the age of big marketing and sales budgets, when big adverts worked, by driving demand through pushing products down channels, offering promotion and celebrity endorsement to generate business.
The age of the Unique Selling Proposition we are special because….. so you will buy! It was the 1980 and 1990’s so the world did as it was told: “we make what you want because we tell you want you want because we know about your needs”.
Honest is essential
Then ethics came into play. As the internet began its infancy, the power of globalisation was laid bare by the internet. people asked more about how companies did things? Where were products sourced and how became important. Why were the premium footballs, such as those which David Beckham kicked, being made by blind children in India for a few rupees. Why were the clothes models wore being made in sweat shops where workers earned less than for a dollar a day?
The internet changed how the media could communicate, explaining how household names operated and could afford those huge marketing budgets. This forced companies to change their practises (not their policies though) by educating and fighting back against the likes of Naomi Wolfs’ No Logo expose for example.
How business operated mattered, and so in response companies upped their awareness of their social impact and visibility through corporate social responsibility. How people did things mattered not just when the likes of Bhopal and Exxon Valdez disasters struck, but in everyday life.
Fair-trade has become a household name in consumer goods, with high street stores vying for credibility of having an ethical policy, supporting local goods and having transparent policies of how they operate. This gives more confidence but leaves companies open to further scrutiny and often to unsatisfactory answers to vital key questions, not at least within developing countries, who are now the fastest growing emerging markets for many brands.
Why! – should I buy from you?
The biggest question which consumers and business now asks people is why businesses are doing these things.  Everyone has become so empowered with information sources that people want to buy the WHY, not the what. Buyers want to understand the ethics of the company and importantly the people behind the decisions it takes. Customers want to know that these decisions accurately reflect the real cultural and values that company has, not just the marketing hype, which the brand portrays. Today this is the real power of the internet.
What’s the real purpose of the company, who and what is driving it and what does it really believe in and stand for. No longer is a small donation to a local charity enough to say it supports the community, customers want to know how much, who gets involved, is it company wide and deep or just a year end tax saving.
What do the decision makers really value, their life story, their values really matter, and how they treat all their people now determines as much if not more in buyers minds than the value the products communicate.
In fact the world has changed completely, confidence comes not from what you say but why you are saying it. The educated and informed world means that its not just politicians who have seen their reputation tarnished but any business in any sector who does not explain it why factor.No matter what sector you are in, understanding the still emerging power of the internet in sustaining your reputation is essential and never more so than in explaining why you are in business and why you matter.
Posted by Richard

A good business starts with the end in mind: have clear objectives.

A good business starts with the end in mind: have clear objectives.

Vision
Having a vision is vital to be successful in the long term, but having objectives will ensure you get you there. Clear milestones for everyone inside your company, top to bottom are the essential component of a successful company. Every successful company has clear goals, strategic ones the outrageous ones (global domination) through to achievable tactical objectives.
Without clear (SMART, see below) objectives company’s loose focus on its goal. Without objectives companies can fall victim to strategic drift, this month’s whim and next month’s quick idea.  Without cascaded objectives at every level, good people’s morale falls as they cannot see where how they are contributing to the company’s success. Without objectives everything else in planning and execution is a waste of paper, time and effort.
Objectives
Objectives should be like a pyramid, with the big objectives at the top, but at every layer underneath there should be the sub objectives that make the bigger one happen. A well run organisation should therefore look like a pyramid, in terms of objectives, with everyone working on their goals which build up together to achieve the big picture goals. This form of management managing by objectives MBO, (not to be confused with a management buy-out MBO), allows people to focus on their objectives, which are aligned to higher goals.
Try not to have too many objectives to achieve. I always recommend no more than 5 per person. The reason why 5? Because it keeps people focused and not drowned in statistics. Even at the company level remember the old KISS concept of simplicity, if you have page after page of objectives some will suffer unless you can resource them. Focus on what really matters to the business, what drives performance and how are they made up. For people think about their Key Performance Indicators, KPI’s they are doing a good job if… Classical KPI’s usually include: revenue, margin, customer numbers, retention, growth, production, saving, are amongst the most common.
Objective Setting
High performance companies often drive all their goals by setting team objectives which are then broken down into Key Performance Indicators (KPIs) for each individual employee. Try not to give any individual or manager too many. An easy way to achieve that is to ensure they can remember and recall them with ease when you meet them.
    The benefits of setting objectives:
1.       Objectives define the entire purpose of your business (or unit) in a couple of sentences or bullet points or set of numbers.
2.       Objectives are often identified as key performance indicators at the individual persons performance.
3.       The objectives that you set determine the quality of the strategy or tactics that you will adopt.
4.       Goals allow you to Manage By Objectives MBO which avoids time in argument and also helps in introducing a more participative management culture where employees are encouraged to set their own objectives.
5.       Clear KPI’s per person is a successful way to evaluate performance as long as the KPI’s are numerate or translatable into a numerate language.
Remember SMART criteria to define attributes of good objectives:
That is:
·         Specific
·         Measurable
·         Achievable
·         Realistic
·         Timely
 SMART criteria include:
1.       Both short range and long range targets should be set.
2.       Both quantitative and qualitative
3.       Clear. Put them in writing, to be achieved within a specified time frame.
4.       Measurable. So that they can be compared with actual results.
5.       Challenging. This is so that staff will put greater effort and be more motivated.
6.       Achievable. Avoid overly optimistic goals as this might be counter productive due to their demotivating nature. Goals should be realistic, reasonable, reachable and beatable. Avoid hidden goals and don’t be over specific.
Hope that gets you thinking?
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