Trends

In keeping up with the topic of change, I grinned when I read an article on BusinessWeek about the big change McDonald’s is going through.

It’s often unrealistic to base your business on examples of huge national companies, let’s face it they’ve got the budget to move things forward a lot faster and the resources to control the damage, if any.

But the reason I like to bring up companies like Disney, GE, McDonald’s and so on is to show that no matter how huge they are they still must go through up’s and downs, shifts, and changes. Yes, it’s on a different scale, but it’s just as daunting to them as it is to you.

McDonalds is working on growing their breakfast market and making some big changes, perhaps the biggest change they’ve done since 1977, and yet that’s not stopping them because the changes will lead to new and better scenarios.

Take a look at your business with “fresh eyes” – if it’s time to start selling specialty coffee when you’re known for selling hamburgers, go for it… just be sure to be prepared.

Oh you’ve read it in several books and heard it from innumerous people, “you must have a laser focus, go deep, stay narrow, don’t go too wide, focus focus focus.”

I tend to accept something if I keep hearing it over and over again even if I’m not quite sure why they say it, especially when successful people keep saying it – they’re successful they must know a thing or two about business! Here’s the thing though, everything has a context and just because that snippet of text stands out does not mean it’s entirely true.

You see, yes you must focus, but you must also be prepared to change your target. It’s the natural process of life, things change, they evolve and one must be ready to accompany and adapt to such changes. What’s important today might not be as significant tomorrow.

It’s ok to change, I see it as a sign of strength.

GE just recently announced that they’re not going to sell appliances anymore. That’s huge! Let’s face it, they’re fairly known for that! And yet, focusing elsewhere becomes a distinct and more desirable challenge that will lead to greater profits.

Shoemoney recently blogged about something similar – same thing… when you grow, as you evolve no matter in what stage you’re in, your willingness to perfect and remodel your business to achieve greater things increases, and one must be willing to take that step forward.

So if you’re focusing and drilling deep, keep doing it, but don’t be afraid to start drilling somewhere else when time proves it’s a better thing to do.

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Yes, it’s a must. In my opinion being the best in your industry does not simply mean having the best product or service, it’s a combination of traits and patterns that are inherent in you and your business.

I’m reading that book by Guy Kawasaki called ” Rules For Revolutionaries” (really good by the way!) and at one point he says something to the gist of if you have the best product in the world that doesn’t matter, it doesn’t matter if it’s perfect if other things like customer service and the likes come in second place. Like he said, if that were true Bill Gates would be serving coffee at Starbucks today!

Sure you need to have a good product or service, but acknowledging that it’s good and knowing all about it is just not enough. You want to become the expert in your field and this will bring you customers. How do you do it? Know as much as possible about your topic, which means constantly educating yourself on the latest information in your industry. You also want to provide stellar customer service. This means going the extra mile to make sure your customers are satisfied with the purchases they make. Build value into your products or services and strive for constant improvement. Word travels fast on the internet, and you want others to say positive things about your business.

If you thinking about publishing a book or you have a book you need to market, I’d like to suggest you read the E-book, Fast and Furious Book Promotion. It has everything you need to know to become a best seller author.

I’ve noticed that while in business I’ve acquired a few habits – one of those has been a keen observation of surrounding businesses. I believe that it’s my duty to analyze and study the successful ones, and those emerging around me to see what they do and how they do it. Of course I’ll always have an opinion about something they’re doing! 🙂

In any case, one of those companies is Disney. I have learned so much from them solely by observing their methods and procedures and encourage you to do the same.

Recently on CNNMoney.com they published an article called “No such thing as recession in Disneyland?“. I love it because it goes to show that such a well orchestrated business like Disney was able to boost their earnings amidst an era where most companies are struggling.

Like Disney, what systems do you have in place in your business to make it recession resilient?

BusinessWeek Online recently published an article on How to Build Brand Friendship. They said that To create a truly powerful brand, you need to establish a sense of belonging, friendship, and dependability between product and customers.

I agree with that, especially in today’s world where the consumer participates and engages in our businesses on a whole different level.

A little while ago we interviewed Jim Banister author of Word of Mouse (if you’re a Buzz Inner Circle member you may listen to the interview here) One of the things I like about Jim is that he often stresses that in our businesses we must create engines of engagement.

So my question to you is this: in your business how are you engaging your clients and prospects? How are you making them producers of your business? As producers they feel a sense of commitment and of belonging, and as Steve McKee mentions, that’s a crucial step in creating a powerful brand.

How do you maintain contact with your clients and prospects? Sure you can have the usual emails they can sign up for, but why not have something that a lot of companies do not have… a printed newsletter?

This is no normal newsletter; it’s a quarterly or monthly newspaper style professional high quality publication. Yes, it can be a bit of an investment. However, I’m sure that it pays off – we do it in our business, and we wouldn’t continue to publish it if it didn’t.

Your newsletter may feature letters from customers, articles related to all aspects of your industry, testimonials, insider secrets, industry announcements, tips and so on. Also, in each issue why not feature your products and services available for ordering? You definitely want a call to action in there.

Remember though, make it so that your clients look forward to each new issue with a passion. Yes, with a passion…