Don’t Listen to the Customer

Don’t Listen to the Customer

Business and Strategy
Customers have an endless supply of valuable feedback and their input is useful for near term actions.  When a company is looking at longer term developments, listening to what the customer is not saying can be more important than what the customer is saying. Let me give you an example.  Early in the 20th century, consumers were interested in horse breads that could travel faster for longer periods of time.  Early pioneers in the car business looked past the requests of the customers to see the real need as a more effective way to get from place to place.  These consumers had already been introduced to travel by trains and realized the ability to go faster using mechanized transportation but still desired the ability to travel at will. (more…)
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Planning Wins  the War

Planning Wins the War

Business and Strategy
Strategy has its foundation in military planning and some of the earliest discussions on the topic date back to Helmuth von Molthke who commanded the Prussian military in the late 1800’s.  While he did have to deal with the Smallpox epidemic during the Franco Prussian war, he was quick to observe that planning was vital to victory but also noticed that situations change too fast for strategy to be followed. 2020 echoes these observations.  Many of us woke up in March to find that our primary markets shut down or operating at 50% capacity for an indefinite amount of time.  Cash flow has been reduced and capital spending is on hold.  Many professional relationships we relied upon at customer locations are now unemployed leaving us at a loss for how…
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A Different World

A Different World

Business and Strategy
The past few months have turned all elements of life in a completely new direction.  Jobs that were once considered secure were magically gone in the matter of a few days.  The challenges for individuals and companies are on an unprecedented scale. For individuals, now is the time to take stock of your true skills and apply them in new industries or in new ways.  Maybe it is time to start that new business you have always wondered about or take the recent shift in life to take a lesser job that improves personal and family health.  This is a once in a lifetime chance to start over and a time to make the most of those things that will bring long term happiness. (more…)
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Don’t over-play a crisis

Don’t over-play a crisis

Business and Strategy
Crisis’s come in all sizes. Some of them are during the once routine course of business and could be as simple as an upset customer. Then we have the new definition of crisis with our current pandemic. In all instances, a crisis is an ideal time to make appropriate changes. The key is to keep the magnitude of the change appropriate for the crisis. Change will always have an inherent amount of resistance. The key is to make sure the change is still logical for the size of the crisis. If the chain of logic is not consistent, the ability for employees to embrace the change, and more importantly rally around the change, is going to be lost as well. (more…)
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The Re-Start

The Re-Start

Uncategorized
The world is completely upside down. Some businesses are making PPE equipment to help save lives during this crisis. Others have had a significant amount of their workforce furloughed just to reduce overhead and to minimize the outflow of critically needed funds. No two situations are the same. While every company has issues burning right now that need to be addressed upon the re-start, make sure you take the time to look at those basic elements of business such as people and products. These two elements will likely have a larger effect upon your long-term success. (more…)
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Don’t Waste a Crisis !!

Don’t Waste a Crisis !!

Business and Strategy
An unexpected crisis in business can be unsettling. Not only does it add uncertainty to the future revenue streams, but the current crisis is causing severe disruption in every aspect of business from the supply chain to the lives of your employees. Literally no element has been left unaffected. Fortunately, most indicators are reflecting the potential for this to be a relatively short slow down, but the speed with which this hit individual businesses leaves managers and executives trying to figure out which concern to tackle first. Some items are going to have to be addressed such as updated sales forecasts, supply chains employees working location, IT changes to support new working rules etc. That list isn’t difficult as it is likely front and center in your inbox. (more…)
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Failure is a MUST !!

Failure is a MUST !!

Business and Strategy
In life or business, failure is the most valuable form of learning in life. The sting of failure is a long term reminder that drives us to future success. The act of failing helps us understand our ultimate limits as well as the limits of the team performing the work on a daily basis. Sitting in my office under my high efficiency LED lighting, the value of failure becomes increasingly clear. Thomas Edison cycle of failure in the development of the incandescent light is legendary and displays a level of persistence that is likely unable to be afforded in today’s economy. Make failure an advantage by planning small but relevant tests into the start of future projects. Small pilots for the final change. Make the affects of tests manageable with…
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Status Quo – Oh No ! !

Status Quo – Oh No ! !

Business and Strategy
Everyone in business has had a moment when they wished their business could just be predictable and reach a point of status quo. A point where every day is predictable and surprises are all good, if they come at all. Each day runs according to plan and no day requires more hours than you want to give. A mythical point of homeostasis – a moment of relative stable equilibrium. For some business leaders, this mythical vision consumes their every waking hour. There are likely as many reasons for this desire as there are business owners. Maybe it’s a desire to spend more time with the family or attempting to please a previous owner who remembers the way the business ran when they were in charge – maybe even a parent.…
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Strategy – Chicken or Egg

Strategy – Chicken or Egg

Business and Strategy
Strategy can be straight forward or an illusive and long sought-after mirage in the desert. One factor that makes strategy difficult to develop and hard to implement are ongoing conflicts regarding products and product lines. In some ways, sales teams find certain legacy products easy to sell due to their existing customer base driving high customer demand and an easy selling environment. On the other hand, new products and the need to keep a product line fresh can be the lifeblood of a company over the long haul. It is logical that a sales team, much like water and electricity, will always choose the path of least resistance making legacy product lines a low resistance favorite. Unfortunately, or fortunately, these disagreements MUST be resolved before a solid company level strategy…
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2021 is right around the corner

2021 is right around the corner

Business and Strategy
While it may be common knowledge that dogs age about seven years for each calendar year, for businesses, the pace is much quicker. Products that require application testing, your sales planning process is likely starting to focus on 2021 revenue opportunities and how to close them. This is a process that cannot be left to fate. It requires a significant amount of advance planning and effort. A business can grow for a brief period with little to no advance planning, but unplanned growth typically is accompanied by a never-ending stream of problems to solve. (more…)
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