Archive for Branding/Differentiation
New Free Report on Fast Growth Released Today!
Posted by: | CommentsWant to Know How You Can Immediately Begin to Grow Your Business Faster Than You Ever Have Before—While Increasing Your Ability to Lead It More Effectively?
If so, you’ll want to immediately get your hands on the new free report I just released today entitled, “The Seven Secrets of Fast Growth Companies.”
Inside it you’ll discover,
• The number one differentiator between slow and fast growth companies
• The two key elements you need to use to create a fast growth culture
• A simple practice that can radically reduce the time it takes to implement anything
• A lesson from a Harvard professor that can change the way you think forever about your products and services
• A top team practice that can change any meeting you run—and make it more effective.
• The one metric you need to use before choosing any growth idea if you want to be an accelerated growth company
• How you can create a business that’ll scale fast
• How to avoid letting your market think you’re just like “everyone else.”
• How you can create a business that works 24/7, especially when you’re not around.
• And the number one mistake that most CEOs of small and medium-sized make
To get your copy immediately, just fill in the form in the right hand column entitled, “Interested in the 7 Secrets of Fast Growth Companies?” and then click the submit button, “Send it to me now!”
Then after you read it, post your comments below!
Five Lessons from Steve Jobs, CEO of the Decade
Posted by: | CommentsIf you haven’t seen the article yet, Fortune Magazine has declared Steve Jobs, CEO of the Decade. In their own words,
How’s this for a gripping corporate story line: Youthful founder gets booted from his company in the 1980s, returns in the 1990s, and in the following decade survives two brushes with death, one securities-law scandal, an also-ran product lineup, and his own often unpleasant demeanor to become the dominant personality in four distinct industries, a billionaire many times over, and CEO of the most valuable company in Silicon Valley.
Not a bad story, is it? 
Furthermore, at the start of the decade, Apple had a market cap of “just” $5B. It now hovers around $170B (slightly larger than Google). What that means is that despite the market crashes of the dot.com boom and last year, if you had invested $1,000 in Apple in 2000, your investment would now be worth over $7500 (I think most of us would gladly accept that). And finally, Jobs has been instrumental in changing four completely different industries–computers, music, media and mobile phones—three of those in the past decade.
Any way you add it up, the past 33 years have been a pretty incredible run for Steve Jobs—and we’ve all benefitted—even if you’re a PC. But the question for you and me is, “What can we learn from him that can make a difference in our businesses?” Here are my top five lessons.
1. Improve on the next new thing. What’s fascinating about Jobs and Apple is that Apple has become the symbol for innovation. However, Apple rarely creates anything entirely new. In fact, one of Steve Jobs’ comments on this subject years ago was, “We look for the next new thing and then make it better.” In other words, Apple didn’t invent the mp3 player, they just made it better. They didn’t invent the cell phone, they just made it better. They look for trends they think are going to be big—and then figure out how to make that “new thing” infinitely better.
So, in your realm, what are the next new things or new trends you’re observing in your market space? How can you create a better product and/or service that can improve on the current offerings in that market space?
2. Change before you have to. As a long standing card carrying Mac Addict, one of my favorite sites is MacRumors. And one of my favorite parts of the site is the buyer’s guide which tracks the time between new iterations of a product (and let’s you know where they are in cycle). Even when Apple is making good money, they keep introducing new models or discontinuing old models so that none of their competitors can catch up (i.e. they change before they have to).
I’ll never forget the day Steve Jobs was talking about the iPod mini and how it was the most successful launch they had ever had up to that point in time. And then he said, “And that’s why today we’re killing the iPod mini … (dramatic pause) … and introducing the iPod nano!” Who else would have killed a cash cow right in the middle of a growth cycle? Only Steve and crew!
So, what products and/or services have you been riding for too long? Do you need to revamp or upgrade any of them? Do you need to discontinue any of them? And/or what new thing do you have in the pipeline?
3. Eliminate what ticks people off. The supposed story of the iPhone is that a bunch of Apple execs were at a meeting when they were all complaining, tangentially, about their cell phones. In the midst of that discussion someone said, “We’re all a bunch of bright people. We should be able to do this better.” Or if you had ever tried to download an app several years ago and load it on a Palm device, you know it was a major pain (it ticked people off). What Apple did with the App store was/is nothing short of remarkable. Or if you had ever tried to download music and put it on your mp3 player pre-iPod, you know it was a major pain. The iPod and iTunes store combo simply eliminated that piece of the puzzle that just ticked people off.
So, what are the issues that tick off the people in your market space? Find the key ones and design a simple solution to solve that problem.
4. Repurpose what you can. If you haven’t been in the Apple fold, you could easily miss this, but Apple is great about repurposing ideas and technology. For example, back in the 90’s, if you wanted to see a movie trailer on the internet, the best place was to go to the Apple site, which highlighted movie trailers and their product Quicktime. But that experience and built in infrastructure for movies made streaming music for the iTunes store infinitely easier. And the experience of the iTunes store made creating the App store for the iPhone infinitely easier. Or the Safari browser for the Mac, made it infinitely easier to create a great web experience on the iPhone (which was night and day ahead of Palm and Blackberry when it debuted). Or the experience with NeXT, led to Mac OS X. On and on you could go. The, “Apple Way,” is not just to create something new, but to repurpose what they already know into a different arena.
So what do you know or have or do that could be repurposed to create a new product or service for your market?
5. Think big and small at the same time. Some leaders are just big picture people. Others are just small picture people. However, what makes Steve so powerful is that he’s both. Steve gets it that executives need to make big picture, bold strategic moves (like canceling several product lines in ‘97 and focusing on just four products). However, he’s also famous for being nit picky and focused on the very intricate details of the business–especially when it comes to design issues and market messaging. As he said to Ken Segall (who used to be at Chiat/Day, the ad agency) on day, “The third word in the fourth paragraph isn’t right. You might like to think about that one.”
Looking back on your history, are you more of a big picture person? Or a small picture kind of person? Whichever one you are, how could you add the other to your wheelhouse and become more versatile ?
So, there you have it, “Five Lessons from Steve Jobs, CEO of the Decade.” The only question remaining is, “What are you going to do in the next few moments in response to it?”
To your accelerated success!
Thinking Long Term Still Wins (Amazon)
Posted by: | CommentsWhile there’s always a tendency to think short-term, especially during an economic downturn, there are plenty of compelling reasons to not do so. Major test case: Amazon.
If you didn’t read the Business Week article (Sept. 28, 2009) on “At Amazon, Marketing is for Dummies,” you missed a compelling argument for thinking long-term, especially during a recession.
Over the past three years, Amazon’s stock price has doubled, while the S & P has gone down 20%. Over the past six months, Amazon revenue has been up 16%, while most retailers have been negative. And, as per the section in BW that the article ran (the 100 Best Global Brands), Amazon has moved up 13 spots this year to No. 43.
So, what’s behind this magic? Bezos’ commitment to invest in infrastructure and technology. In fact, I thought the best paragraph from the article was,
“The performance is something of a vindication for Chief Executive and founder Jeffrey Bezos. After the dot-com bubble burst, critics hammered him for investing so much in technology and physical distribution centers. Some investors called for Bezos to pull back and produce more short-term profits. Now, those heavy investments are paying off big time, helping the company sell an ever-widening range of products to more than 94 million customers.”
Did you catch that? During the last downturn, rather than give into short-term thinking, Bezos opted for the long-term approach–even though his critics and other investors were urging him to focus on short-term profits. It was that decision, during a market that was fixated on the short-term, that has allowed Amazon to do so well now–during this economic downturn.
So, as you look at the decisions you’re making this month, are you thinking short-term? Or long-term? Are you allowing the siren song of the recession to keep your eyes and investments off the long-term? And finally, do you need to make any adjustments to how you’re currently operating so that you can prosper, not just in the coming months, but for years to come?
To your accelerated success!
Originality and Commonality: A Powerful One-Two Punch!
Posted by: | CommentsHave you ever noticed that most people like to live life in an either/or world? Either we buy a sports car or a minivan. Either we go to the beach or the mountains for vacation this year. Either we locate in a busy location or an isolated one. Either we focus on one product or a slew of products. Either we focus on one niche or on everyone.
The problem, of course, with an either/or world is that it rarely reflects reality because life is rarely that clean. Rather it’s full of contradictions and surprises. One of which is that originality and commonality go hand in hand together.
In an either/or world that doesn’t make sense. Either you’re original or your common. But, in the real world, being completely original isn’t an easy road to success. Just ask the creator of the first fax machine (Bain, 1843) or first cell phone or first anything. It’s not that easy to create an entirely new market.
When people read books like, “Blue Ocean Strategy,” they tend to think that the key to success is to come up with an entirely new idea (a new blue ocean). But if you take a look at the examples in the book you’ll notice they weren’t entirely new at all.
Cirque du Soleil wasn’t the first circus. Southwest wasn’t the first airplane company. Curves wasn’t the first health fitness facility. Etc.
All three of those examples are part of huge industries. The entertainment industry is huge. It’s common. But Cirque du Soleil’s genius was to do something original in a big market (i.e. a circus for adults with one ring vs. three and no live animals).
Southwest’s genius was to do point-to-point (i.e. non-hub), fun, no frills flights to tier two cities. Curves’ genius was to do a women’s only club with minimal equipment in a circle (a low-cost, quick, gender specific workout).
In other words, rather than look where there wasn’t a lot of competition, they looked for a very competitive market (the common part) and then looked for an uncommon way/original way to meet the needs of that market.
So, if you’re in a town full of pizza joints, that doesn’t mean you can’t start another pizza joint. Maybe you should start a gourmet one (if there isn’t one yet). Or maybe the people in you town just love fast food. If that’s the case, you might want to start a different kind of fast food restaurant (maybe BBQ wings). Or maybe your market simply loves Italian food. In that case, you could start a northern or southern Italian or even a sicilian restaurant. Etc.
Ultimately, it comes down to buyers. And what do they want? In general, they usually want something similar to what they already like/have–just a little different. This is not to downplay new and disruptive technologies. Just an observation about what fast growth companies do.
As a twenty-five year fan of Apple, I’ve drunk the kool-aid. But most of Apple’s successes haven’t come from being the first at something. 
The iPod wasn’t the first mp3 player. And the iPhone certainly wasn’t the first cell phone. But Apple, usually referred to as, “the most innovative company on the planet,” usually has winners when it looks at what people already want and then makes something original in that field.
So, if you want to build a wildly successful company, you might want to look where there’s a lot of competition (the common part) and then come up with a unique solution to that market’s wants and needs (the original part). It’s not an either/or, but rather a both/and that usually wins in the real world. So do your best to eliminate either/or thinking in your company. Both/and thinking is a much better route to go! Originality and commonality are a powerful one-two punch when used correctly.
To your accelerated success!
It’s Not About Your Product!
Posted by: | CommentsI received an email from my mother last evening about a social experiment that the Washington Post conducted two years ago with Joshua Bell, the world famous violinist. That said, I think the real value of the experiment drives home an incredibly important message for business owners and senior executives.
The basic story line goes like this (note: hang in there, this has a great ending).
To test their ideas, the Washington Post had Joshua Bell, dress like a street musician and play six Bach violin concertos for 45 minutes on a cold January morning at a DC Metro stop. During that time frame, approximately 2,000 people passed by him on their way to work–only a few of whom stopped to listen.
All totaled, by the time he was finished 45 minutes later, only six people had stopped long enough to listen for any length of time and only 20 people had given him any money. The total take for 45 minutes of Joshua Bell’s playing time that morning at the DC Metro stop, $32. The applause, none.
Now, what makes that so remarkable, is that Bell often plays to sold-out audiences in the best performance halls around the world, he’s undoubtedly one of the best violinists on planet earth, he plays on a $3.5 million violin, he normally charges around $100 per person to hear him perform (e.g. 1500 people x $100 = $150,000), and he normally plays to standing ovations (I know, I’ve seen him play).
So, let’s recap what happened. The same Joshua Bell, playing on the same $3.5M violin, playing six of the most beautiful violin concertos of all time–and with the same brilliance as he normally does in a performance hall (where the receipts might be anywhere from $100K-$150K) only walked away with $32 and a few people willing to stop for a few minutes to listen.
So, what made the difference? It wasn’t the product (Bell playing Bach on his $3.5M violin), was it? No! It was the context, the perception of value, and the packaging of the product that made the difference–NOT the product itself.
But isn’t that exactly the mistake that most businesses make. They keep thinking it’s about their product or service. So they keep talking about their product or service as though that were everything–but it’s not. Whenever anyone gets sucked into focusing on how great their product or service is, they’re almost always sucked into a commodity mindset (and they end up with $32 playing on a DC Metro stop).
However, there is another alternative. The other alternative is to boost the perceived value. Looking at Bell’s normal marketing plan, changing the venue (i.e. the packaging) to a first-class performance hall, like the Kennedy Center, changes his perceived value immensely. Raising his ticket prices, changes his perceived value.
Doing PR on TV and radio, increases his perceived value. Winning competitions increases his perceived value. Being the featured violinist in Hollywood films increases his perceived value. Playing alongside some of the greatest violinists and conductors, increases his perceived value. Letting people know he plays on a $3.5M violin increases his perceived value. Sharing testimonials of listeners, conductors, and famous people increases his perceived value. Etc.
In other words, it’s not the product itself that creates the value. Whether Bell is playing at a DC Metro Stop or at the Kennedy Center, it’s still the same product. However, the difference in perceived value is the difference between $32 and $150,000.
So, as you look at your products and services, what can you start doing NOW to increase the perceived value of what you offer? Remember, you don’t want to focus on your product or service alone. You want to focus on increasing the perceived value of what you offer–and when you do that, you’ll immediately begin making more and more money for the same product or service–just like Joshua Bell!
To your accelerated success!
Are You Sizzling Hot?
Posted by: | CommentsWhen your prospects and customers think about you, do they think, “I have to have that!” Or, “I need to go there!” Or “I need to use them!” Or is it more of a more of a, “Let me think about it.” Or a “I’ll get back to you.” Or, “I’m doing my due diligence,” kind of thing?“
It’s an important question if you want to grow an accelerated growth company.
If you’re not sure, then just think back over the past few years. Think Twitter. Facebook. Myspace. Apple. Starbucks. Google. Netflix. And Dancing with the Stars (Note: I don’t watch :-), however it is consistently in the top ten shows, according to Nielson–though I’m much more of a 24 kind of guy).
Each of those companies (and shows) has grown significantly because they were sizzling hot and word of mouth took off.
So when was the last time you (and your team) asked, “Is what we’re doing sizzling hot?”
Or similar questions like, “Are we addressing a big pain or problem that needs to be solved?” “Are our customers raving about us?” “Are the media and our target market beating down our doors to get to us?”
If not, then maybe those are the kinds of questions you need to ask—and then answer. I’ve found very few businesses that ask (and answer) those kinds of questions, even though they’re vital to a company’s success.
And don’t think your business is different. A few week’s ago I met Seth Goldman, the CEO of Honest Tea (which is President Obama’s favorite drink). If Seth and his team can make colored water sizzling hot, you can make what you do, sizzling hot as well. Your category and niche are irrelevant.
So, how can you make what you do sizzling hot over the next three months?
To your accelerated success!
Don’t Make an Omni Mistake!
Posted by: | CommentsHave you ever set out to create a system in your business that deliberately irritated or disappointed your customers? Probably not. But if I asked, “Have you ever done so?” The answer would probably be, “Yes!”
I had one of those experiences the other week. I was speaking at a convention in Orlando that was held at the beautiful Omni Hotel Resort at Champions Gate. It was around 9:00 a.m., on the morning of my presentation on “The Four Keys of Accelerated Growth,” when it dawned on me that my talk went from 10:15 a.m. until noon, which was also check out time.
So, I thought, “Why don’t I just call and request a late check out time so I don’t have to pack up right now.” At that moment I went over to the phone next to the bed and saw the following button entitled, “Prompt Response.” Note: It’s the first button on the second row from the bottom (you can click on the image for a larger image)
When I saw that, I thought, “What a great name for a button to call down to the front desk or operator,” and promptly pushed the button. Unfortunately, what happened next was anything but prompt.
It took 15, yes 15 rings before the operator picked up the call. She asked, “How may I help you?” I said, “I’d like to get a late check out for my room.” She said, “Let me transfer you to the front desk.” After which I then waited, catch this, for 60 rings BEFORE I hung up (i.e. no one at the front desk ever picked up the call).
Forget how terrible that was (systems mistakes at every level) and instead think back to the expectation that was set by the button, “Prompt response.” When you hear the phrase, “Prompt response”, how many rings do you expect before someone picks up the line? I’m guessing that while your normal assumption is probably three or four rings, when you hear the word, “Prompt,” it probably means, “On the first or second ring.”
In other words, when the Omni Hotel made a decision to change the normal first button on a hotel phone from “Front Desk” to “Prompt Response,” they created a whole new set of expectations. This wasn’t just a cute marketing phrase, it was a whole new level of expectations they created that needed a whole new level of systems to ensure that it would always be executed perfectly–24 hours a day.
It’s irrelevant if they pick up on the first or second ring 80 percent of the time. For the 20 percent of us who don’t get the standard level of service, it’s even worse than if they hadn’t used the phrase, “Prompt response.” And I’m pretty sure than in anyone’s book, 75 rings doesn’t meet the standard expectation that Omni management set with their cool new first button.
So, as you look at your business, what are the standard expectations that your customers and potential customers have of you? What expectations have you set with your marketing and materials? How often do you meet those expectations? If the answer is anything less than 100%, I’d encourage you to start there.
Why? Because the first step to creating WOW, is to eliminate all unWOW. And the place to start eliminating unWOW is wherever you’re not meeting the standard expectations your customers have of you (like getting a prompt response).
Toward accelerating your success!
Note: This is a great exercise to do with your staff or with a customer advisory board.
How Often Do You Communicate Your Marketing Messages?
Posted by: | CommentsI was working out at the gym this afternoon, watching “Pirates of the Caribbean,” on USA (yes, it is difficult to workout on the elliptical these days :-) when I noticed, down at the bottom left hand corner of the screen, the following words,
All New Season
Sunday, April 19th 10/9C
As I saw that I thought, “Isn’t that amazing. I’ve been watching ads for this show on USA for the past several weeks. Now, they’re even promoting the show during the main content part of other shows–and we’re still SIX WEEKS AWAY!”
Think about that. When was the last time you promoted anything like that?
Most of us send out one or two messages–and when no one or a couple of people respond, we think, “I guess this doesn’t work!”
But maybe it’s not what we’re saying. Maybe it’s that we simply haven’t communicated it often enough.
The old adage is that it you have to communicate a marketing message seven times before a prospect will buy.
However, what the marketing rule-makers don’t tell is that your prospects don’t hear your message, two out of every three times you send it out. In other words, the Rule of 7 is really the Rule of 21.
So as you look at the marketing messages that your firm or business is sending out, how frequently do you communicate your messages? Are you sending them out at least 21 times? If not, you may want to take a lead from USA–who at least knows that if you want to create a hit, you’ve got to send out a whole lot of marketing messages–even if you’re two months out from your launch date.
To your accelerated success!
Ready to Create Your Own Tribe?
Posted by: | Comments
Seth Godin has done it again. Last week, while on vacation, I finally got a chance to read Seth's book entitled, "Tribes," and loved it. The basic premise is that throughout history, tribes (composed of a leader, a group and an idea) have primarily been ruled by geography.
However, the internet has changed all that. Now, someone from Niles, OH can lead a "tribe" of people from India, Brazil, Sweden and Sacramento. That said, even though the internet has made this a possibility, Seth's argument is that the world is still in need of more leaders. In essence, Seth, the marketer, has written a short treatise on leadership in the internet age.
While, I'd clearly encourage you to read, Tribes, for yourself, you can start asking the basic questions he raises without doing so. For example,
- What group of people do you know who need leadership?
- Do they have a pressing need that they want met/healed/solved?
- What are you passionate about?
- What groups of people from your past do you connect with best?
- What do they need to hear or do or think, that would help them?
As business leaders, Seth, gives us all a great challenge. In this new wired age, how can we best express our leadership gifts, now that geographical boundaries are irrelevant?
Can you imagine what could happen for your business if you created a tribe of people who were all looking to you (or you and your company) to provide them with leadership and solve their problems? Whether you're a personal trainer or the CEO of a publishing company, an Executive Director of a Performing Arts Center or the Managing Partner of a Law Firm, the impact could be incredible.
So, are you ready to create your own tribe? I hope so! Because there are plenty of people who are counting on you to answer the call.
P.S. Seth doesn't really dig into this, but tribes are very profitable! Why? Because tribe members (i.e. fans) tend to buy more, pay more and tell more people about you and your company. So, what are you waiting for? Go start your own tribe!
P.P.S. Seth's book, Tribes, is the twelfth book down on my list of "Books I've Been Reading" in the column to the left of this column.
If You Really Want to Be More Remarkable Take a Page from Apple’s Playbook
Posted by: | CommentsFortune magazine recently came out with their listing of the Fortune 500 (and 1000). A quick survey of the Fortune 500 shows that the company with the best performing stock return over the past decade has been . . . Apple–at an impressive 50.7% return per year. 
So, how did they do that? From my perspective, they did it by living at the intersection of the four keys to true remarkability.
1. Differentiation - In order for anything to be remarkable, it has to be different (even in the case where different is consistency, as in the case of Cal Ripkin). No one I’ve ever met has ever mistaken any Apple product for someone else’s. No one picks up an iPhone and says, "Looks like a Nokia product." Or an iMac and says, "Looks like a Dell." Or an iPod and says, "Looks like a Sony mp3 player." Or at iTunes and says, "Looks like Walmart." Everything Apple does is different–and clearly different.
2. Innovation – Since the natural drift of life is from remarkable to ordinary to death, every company that wants to be remarkable has to continually innovate their products and services. And no company does this better than Apple. As long as I live, I’ll never forget Steve Jobs’ speech a few years ago when he stood up on stage and said, "The iPod mini has been the most successful product launch in the history of Apple (with a huge graph showing accelerating sales behind him), 
which is why today we’re killing it (pregnant pause) . . . and introducing the iPod nano." Who else on planet earth would do that? Who else would kill a successful product that had been out for less than a year and was selling like hot cakes–other than Apple? Then again, maybe that’s why Apple was once again recently named the Most Innovative Company on the planet by Business Week.
3. Positioning – In order for customers to believe that something is remarkable, it has to be positioned correctly. For example, Cirque du Soleil is clearly positioned to be a theatrical circus for adults vs. the traditional circus like Ringling Brothers. In the case of Apple, they’ve been able to pull off an Avis or 7-up strategy of positioning themselves against the dominant player. Even better, with the Mac vs. PC ads, they’ve been able to make the dominate player look like a Dilbert character–and who would want that? No one wants to remark to their friends, "Hey, I just bought a PC," (makes them look like "cubicle man"). But everyone I know loves to remark, "I just bought a Mac," (i.e. I’m now cool–and not a cubicle slave anymore).
4. Excellence – In order for something to be remarkable, it has to be executed with excellence. Just having a remarkable idea is not enough. For example, last fall when Michael Dell introduced a PC tablet with multi-touch (the thing that the iPhone made popular so you can expand and contract a picture by pinching or expanding two fingers) it sounded and looked remarkable except that what he demonstrated on stage and what you can actually do are two different things (i.e. the laptop you can actually buy doesn’t work with multi-touch, only single touch). No excellence. No remarkability. On the other hand, even though Apple has had it’s share of problems, there is no question that the products they produce are always done with excellence. In fact, the other day I picked up my first MacBook Air 
and just drooled for a moment (then I remembered I was supposed to be shopping for Mother’s Day). However, I’ve never ever seen anyone drool over a Dell or HP or . . .
So as you take a look at your own company or organization, where can you find the place of intersection at the cross roads of differentiation, innovation, positioning and excellence? How can you make sure that no one confuses what you do with what anyone else does? Or how can you innovate what you’re doing to introduce version 4.2? Or how can you better position what you do so you’re the obvious choice? Or how can you do what you do so well that it elicits a "WOW!"?
It’s worth wrestling with these questions because if you find that place of intersection, then, like Apple, you’ll not only be more remarkable, you’ll also be putting away some serious cash (e.g. Apple is currently stashing away around a billion dollars per quarter). So don’t let anyone ever tell you remarkable isn’t marketable. It is. It really is.
P.S. A simple staff discussion might be to take each of your competitors and their main products. Then ask of each, "How can we do this differently than they do?" And, "Is that different something our customers would want?" Finally, "And is that different so clearly different that it would move our customers to tell their friends, ‘You’ve got to check this out?’"