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How to Develop Future C-suite Leaders: A Guide for Mentoring and Succession Planning
Ambition is the easy part. The real question is whether your company’s future CEO’s, CFOs, COOs, CMO’s and CROs are already growing inside the business long before you need them.
Let’s Get Real! Three of 10 Reasons Why Your SWOT is Really a SWAG
Mon, Oct 10, 2016 — I once experienced a recurring dream where I stood at the front of Mrs. Streebeck’s fifth grade class, completely unable to speak. “Where is your homework, Mr. Sparrow?” the teacher asked. The shame and guilt of being unprepared caused my throat to tighten and my vocal chords to freeze. It was horrifying. Never mind that in the nightmare I was also fully exposed—buck naked, as we say in the South—but that’s not the point. Even if tucked away in my subconscious, I’ve always been mortified of being unprepared. Most of you reading this post feel the same way – and that’s why you’re here.
What Can Tesla Teach Us About Customer-Focus?
Thu, Oct 6, 2016 — I wouldn’t mind getting my hands on a Tesla. Sleek, fast, future-forward – and electric to boot – the unique combination of “smart” and sustainability features on the Model S, Model X, and Model 3 make the car company’s offerings so irresistible to buyers, that Elon Musk and his team have struggled to keep up with demand.
Market-Driven Strategy Doubles Annual Revenue for ISTN [CASE STUDY]
Tue, Dec 11, 2012 — In this case study, see how a market-driven strategy helped a business consolidate sales and marketing programs, increase revenue growth, and expand into new geographic markets. As a management buy-out company of a Westinghouse division, IST produced instrumentation and optics used in the nuclear power, defense, safety and spectrophotometer markets.
The Power of Yelp: You Can't Ignore It
Thu, Oct 4, 2012 — What do you do when you want to try a new restaurant? Well maybe not you in particular, but many people turn to Yelp. Yelp is a social site where members post reviews of local businesses where they eat, shop and go to for services. And many people read those reviews. In fact, Yahoo News reported that a 1/2 star change in reviews can increase customers in the restaurant by almost 20%.
What To Do When Your Sales Are Up But Your Profits Aren't?
Thu, Aug 16, 2012 — Several times as a CMO, I have been called upon to solve a net profit, rather than a total revenue problem. Sales in these cases were not bad. Not where we wanted them to be, but adequate. The problem was that no one was making any money.
Rising Above Organic Growth
Sat, May 5, 2012 — A successful small to medium size business often runs the risk of feeling “too comfortable." Even though revenue is coming in, your customers like you, and your sales force is calling on customers regularly, you aren’t seeing the growth you are looking for. This lack of desired growth may be a result of new competitors, new products or services in the market, or that the market itself is growing stagnant. Get Outside Your Comfort Zone If any or all of these things are happening it should cause you to take a hard look at your business and consider going out of your comfort zone to continue to grow. It may be time to consider looking for new markets for your product. If you've grown comfortable selling to one or a few vertical markets, going beyond them may cause fundamental changes in your company. You may have to learn new industries, call on different kinds of buyers, and maybe have to recruit new sales people with knowledge of this new category. Market Expansion Most of all, you will have to take a hard look at your business and decide what kinds of problems you can be solving for new and different companies. Really getting into the guts of your business and looking beyond the obvious answers can sometimes be a painful exercise. You may be required to change the culture of your company in order to accommodate this new market opportunity that you have uncovered. But, the growth that comes with it is definitely worth the effort.
Too Broad a Brush: The Lack-of-Focus Problem
Wed, Apr 11, 2012 — Perhaps the most common issue I see among all kinds of businesses, from startups to large, established firms, is a lack of focus in their marketing. This generally takes the form of what I call taking too broad a brush to the market — throwing broad, scattershot strategies at the market in the hopes that some of it will stick, instead of pinpointing the most lucrative opportunities and then choosing the right applications — the right brush, if you will — to get the most of out those opportunities.
Growth Opportunity: The Demand Chain
Mon, Mar 19, 2012 — Efficiency Only Goes So Far The last ten years of American business have been focused on integrating and perfecting operational efficiencies through the perfection and active management of the Supply Chain. For the last couple of years of economic turmoil, many companies have almost exclusively focused on supply chain efficiencies as a strategy for survival. Now the challenge is taking the expertise and company culture focused on linear thinking and introspection of the supply chain and start growing again.
DRIVE: What Motivates Millennials?
Sat, Nov 26, 2011 — Recently, I spent a week working on a project about 90 minutes away and decided to make my commuting time "profitable" be listening to an audio book. Since I was driving, I chose "Drive: The Surprising Truth About What Motivates Us" by Daniel Pink. It was an inspired choice. It is especially relevant to those of us who work with today’s “Millennial” generation and since, in addition to my work as a Chief Outsider, I also teach an undergraduate course at Rutgers University, its message really resonated with me. Pink shares lessons from four decades of scientific research on human motivation. He explores what science knows about the subject and compares it with what business does — and does not do. He examines the three elements of true motivation — autonomy, mastery, and purpose — and offers simple ideas for putting these concepts into action.