Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Tuesday, December 15, 2009

Do you need a website to do business online?

11 Cloned Men Went To Mow, Went To Mow A Meadow !
Image by Bobasonic via Flickr
The future is almost here. No, really. In a few days it will be 2010. That's the future.

As of late, I've been writing a lot about business. Specifically, how the digital world changes what it means to be "in business". A catch phrase I've been using over the last year is this: Doing business online means more than just having a first-class website. And while I believe that is true, I wonder if the statement goes far enough? I wonder if, instead, I believe this:

It is possible to do business online without having your own website.

Heretical? Not really. And not all that ground-breaking. I first heard about eBay from a neighbor almost a decade ago. A significant portion of his income came from trading baseball cards on the site. He didn't have his own website until the last few years. I've ran a digital media consulting practice for the last two years without a site for said practice, though I'll concede that this site helps and that I used prior connections to secure clients.

The web of today provides smart businesses many chances to make connections without having a dedicated website. So yes, it's possible to do business without one. I'm not advocating you abandon your website. But I do challenge you to consider the role your site plays today. Think of where your customers or prospects are and be there. Spend at least as much time building and maintaining your presence out there as you do on your own site.

Maybe more?



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Monday, December 14, 2009

Exceeding by reducing choices

Beer wall from an #evfn at Whole Foods
Image by evo_terra via Flickr
Given the choice, I think every business would choose to be remarkable. Certainly no one in business wants to provide a bad business experience. But I'm more troubled by those in business satisfied to deliver a staple experience.

Staples are things you have to have, or need on a regular basis. The "general store" of old comes to mind. Competition really didn't come into play, as they tended to be the only game in town. It may not have been pretty to shop in, but they had what you needed. And if they didn't, you probably didn't know you needed it.

Today, businesses in the staple-market compete on one thing and one thing only -- price. Margins are razor-thin. Service and selection are commoditized. Success is measured by volume. Customers are lured in by items offered below cost in the hope that an impulse decision may result in a slightly higher profit item being sold. Some companies have made loads of money this way. Some entire industries operate under this principle. There is a success path here, if that is your true intent.

There exists a direct relationship between choice and staple-ness.

It's hard to offer a multitude of choices and succeed at all of them. It's difficult to try and meet every conceivable need and almost impossible to exceed them all. If you're lucky, you do one or two things really well. The rest? Filler. And those things you don't knock out of the park may be doing harm to your business or your brand.

Consider the restaurant that offers dozens of entrées. Do you go there because the all the food is fantastic? What about any of the food? Chances are, you eat there because it's fast (relatively speaking), decent (relatively speaking), cheap (relatively speaking) and predictable.

Alternately, consider the establishment that is really known for one or two things. Chances are, they offer a more limited -- more exclusive, if you will -- list of items that they kick-ass on. Every. Time. Because of the limited selection, they can also be fast enough and (relatively) affordable. But these places offer a product that is far above decent. Predictable? Only to those who are regulars, and they often drag their friends along just to see the look on their faces when they taste something truly remarkable.

Those same rules apply to almost any small business or entrepreneur. Focus on that which you do better than anyone else. While it's hard -- if not stupid -- to turn away business, understand the possible risk if you fail to not just meet, but exceed your customers' expectations.

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Wednesday, December 9, 2009

Cultivating impatience in business

1881 Programme for Patience
Image via Wikipedia
I'm not a very patient man. My sense of time has always been a few clicks faster than those around me. This helped me in academics as a kid -- but to a point. Impatience breeds boredom. And that leads to a host of issues with less-than-desirable outcomes.

But impatience can be -- over time -- channeled into a power for good. While everyone else will happily continue to drive over the speed bumps, we impatient find a way around them. Eventually, those around us notice and start following. And without any planning or process meetings, a new and generally accepted path is formed.

Businesses can be impatient, too. I see that as a Good Thing. Impatient companies recognize a need and fill it -- now. While there's nothing wrong with analyzing conditions to see if the timing is right, sometimes that just takes too long. Or sometimes the signs are so obvious that further study simply isn't needed.

How do you adopt impatience? I don't think you can. I think you are, or you aren't. But your business can learn to be. You may have to bring in talent from the outside. You may have to look through your list of "troublemakers" and see if they truly are worthless (then fire them) or if they just want things to move faster. Don't give them the reigns, but do give them some rope. You may be surprised what they can create, and what you might learn.

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Monday, December 7, 2009

Strengthen your connections

Melting Ice
Image by vitroid via Flickr
Don't underestimate the value of connections. While we (and by we I mean I) sometimes get caught up looking for ROI and hard, measurable facts, some things are more esoteric. Yet just as valuable.

When Google bought YouTube, they thought the asset was the impressions the videos would deliver. What they found more valuable was the connections and conversations people were having around and because of those videos.

Today, you can't have a network without the connections. Some connections between you and others are incredibly strong. When you start noticing the same people at events and see the same names on email, comments or other outreach, that's an indication of a strong connection.

But strong connections aren't conducive to growth, either personal or the growth of the network itself. And while it can happen, strong connections make it difficult for others to join in the connection. So instead, we tend to keep increasing the strength of our own connections, since that's easier than breaking in. I think that approach misses the mark.

Spend less time strengthening strong connections.

If your connection with another person is truly strong, it will survive a bit of neglect on your part. I know that people will tell you that relationships take work. I've found that not to be the case. At least, not a significant amount of work. And if it does, then it's probably a relationship I'm probably not going to miss.

Rather, spend your time shoring up tenuous connections. Reach out to those you're loosely connected to, and make those connections stronger. You'll quickly find yourself exposed to new ideas, new people and new opportunities. And those other strong connections? Still rock solid. Now you have even more.

Which tenuous connection will you work on strengthening first?

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New FTC guidelines for bloggers are a bigger challenge for marketers

Gavel2
Image via Wikipedia
Changes to FTC (Federal Trade Commission) guidelines on endorsements and testimonials were made active on December 1. And seven days later, I'm happy to report that I, a blogger, have not been sued. Neither, chance are, have you.

There was a huge stink about these proposed changes a few months back. Mob mentality won over common sense, and the assumption was that bloggers were going to be fined $11,000 if they failed to mention the book they just reviewed was purchased from Barnes & Nobel with a 15% coupon.

Wrong.

What do the new guidelines mean for bloggers?

Probably nothing. The overview by the FTC on this page is pretty good, but I think this short PDF of the revised guidelines is even better. And if you want the whole story, check this 81 page PDF. It's overkill, but for the complete-ists out there; have at it. But back to "probably nothing".

The new guidelines -- the first change to the endorsements & testimonials section since 1980 -- require marketers to be honest, forthright and clear when using endorsements and testimonials. What a crazy concept. If you're the endorser or provider of the testimonal -- bloggers, for the purpose of this discussion -- then you have an obligation to do the same and disclose if you were compensated for your endorsement.

Chances are, you already do that. And if you don't; start. It requires you do nothing more than say "Ford let me drive this new car for a week, and here's what I think". Again, you probably do this already.

Marketers are responsible for what compensated endorsers say.

That's the biggest change. If Snapple sends out free samples of a new beverage to specific bloggers as part of an outreach campaign, they have an obligation to make sure the endorsements are real and true. That's an oversimplification, but it's close enough. If one of those bloggers posts about how the drink cured them of lung cancer, the marketer is on the hook. The blogger is on the hook as well, and probably by more than just the FTC.

My advice to bloggers is simple:
  1. Don't lie. If your really didn't think it was the best ever, don't say it was. Don't shill.
  2. Disclose received compensation. Getting it for free for the purpose of blogging or tweeting about it is compensation. Getting a free sandwich because you bought nine others is not.


My advice to marketer is even more simple:
  1. Don't try and deceive. "Results not typical" will be a thing of the past. Finally.


And yes, the fine for infractions can be up to $11,000 per occurrence. Will you get caught if you break the new laws? I sincerely hope so.

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Sunday, December 6, 2009

Don't scare off the new people

NORMANDY, UNITED KINGDOM - AUGUST 08:  A publi...
Image by Getty Images via Daylife
There are only two types of "visitors" to your website, blog, profile, or account page1: Those who've never seen any of your stuff before, and everyone else. Converting the new visitor to a repeat visitor is a key goal for anyone in business. The definition of conversion varies, and we'll get deeper into that in the coming posts. But a high-level goal should be moving that new person into the "everyone else" column.

First impressions mean everything to this group. They will be making snap decisions about you based on your most recent post on your blog, update to Facebook, image on Flickr, tweet via Twitter, video on YouTube, episode of your podcast, or whatever action you do on whatever platform you're doing it from.

Your most recent update should always be your best.

It should also be indicative of the kinds of things you want to be known for on that platform. That makes it hard to post anything other than that which you want to be known for. And that makes for a boring, monolithic platform.

The fix is easy. Though it's easier on some platforms than others. In fact, I've done it with this blog post. It's not the most recent post I've made, though new folks would never known it.2 I back-dated the post I wanted to make so that it showed up below this post and deeper in the RSS feed. The "everyone else" I mentioned before are probably getting this via RSS or email, so they won't miss it. Those that are more casual checkers may miss it, but so what? It's not like the post was all that critical. This one is the important one.

Not all platforms will let you do that. So that last tweet is what people who hit your Twitter page will see. You can't back-date on Facebook or Flickr either. So it's a good idea to hold some gems in reserve. Then you can post that whimsical update followed quickly by something of more value to the new person.

Or... you could recognize that personal branding is pretty fractured, and you don't have to be the same thing in all places. You never want to stop being a human, and if cutting up in public is part of who you are -- it's sure as heck who I am -- then do it and don't worry about it. I do it just about everywhere else but here (as of late).

But even still, I think I could do a better job of putting my best foot forward on platforms other than this. Now to determine if I care or not. Do you?



1 - This assumes they come in through your front door, as if someone told them to check you out online. Searchers are a totally different breed, as Google cares little for taking people to your home page and instead wants to take them straight to the content they want. More on this in the future.

2 - Well, they wouldn't have known if I didn't spill the beans with this post!

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Wednesday, December 2, 2009

Being an Expert Is Time-Sensitive

Example of Old\New on a studebaker
Remember when you hung out your very own "expert" shingle? Oh, there's no doubt that you deserved it. You knew as much -- if not more -- on the subject than anyone around you. And when the topic of your expertise came up, people immediately thought of you.

You received payment for the work you did for clients. And you did amazing things for clients. They referred other clients to you, and your expertise was further recognized and validated. You made ends meet and created a successful -- if not profitable -- business venture. Well done.

Or maybe you took a job with a company. They hired you as The Expert or An Expert, and you worked diligently on projects and ideas for your clients. Those clients loved the work you did for them, and your company received great referral business, solidifying you and them as true experts in the field. The company made money, you drew a steady paycheck, and life was good.

But that was last year, when you were the expert.

While you were busy being an expert, your expertise expired.

Unless your expertise is in something like Great Opera Singers of the 12th Century -- and maybe not even then -- the game is changing constantly. The milieu isn't today what it was 12 months ago. And if you're in an emerging or highly volatile field, that could be 12 weeks.

While you were busying being an expert, your skills lapsed. While you were busy being an expert, the platform moved. While you were busy being an expert, outside changes impacted your field. You didn't notice. And now you're an expert at outdated concepts.

Stay fresh.

If you're spending 100% of your time on billable work, you have no time to keep abreast of the changes in your field. If the company you work for has you cranking out paying work 40+ hours a week, then they are letting your expertise lapse, and you're becoming a limited time offer.

Cut back on the work and make time for what many professional organizations call continuing education. Attend and speak at conferences. Read publications. Try new things. Connect with other experts in your field. Connect with experts in related fields. Become part of the community.

If that means you have to raise your billable hourly rate to make up for the lost income -- do it. If that means you have to demand your employer reduce your doing-work to give you room for learning-work -- do it.

The consequences of not doing it? You cease to become the expert, and your value effectively drops to zero. And who wants to put "I used to be an expert" on a resume?

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Monday, November 30, 2009

When data is not your friend

A simulation using the navier-stokes different...
Image via Wikipedia
Here's a new question you need to have at the ready: So what? Use it early and often, but use it primarily any time someone throws some stats or analysis at you.

I'm a data junkie. I admit it. I understood just enough in my college statistical mathematics class to prove to me that I may not be as smart as I thought I was, and that numbers can mean a hell of a lot more than they appear at first glance.

But stats are just that -- stats. Without informing any goal or objective, without providing a clear path for tactics and execution, they are simply unactionable stats. Spending too much time -- hell, any time on unactionable stats is an utter waste of your time. And a huge stress-ball you don't need.

What am I supposed to do with this?

Require your reporting team to give you something you can work with. And don't let them shove averages and trends down your throat. I think that the average is one of the worst measurement tools we have and leads to terrible decisions. But it's easy, and so we do it. Trends are just as insidious, as they lead to causefusion.

Demand data you can work with. Data that helps you solve a problem. Data that informs your goals and objectives. Not getting it? Get it. It's there. You just have to dig a bit deeper. Start by throwing out all that worthless stuff on top.


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Saturday, November 28, 2009

Surviving in a reputation-based economy

help wanted
Image by kandyjaxx via Flickr
When I walk into a room, I assume I'm the smartest person there. Call it a character flaw if you will, but it's really a survival trait expressed in the modern world. But my self-described smarts come at a price -- I lack the ability to actually do many things. I've managed to excel in the world of digital media and web development without knowing how to code, design, layout or architect. That's not to say I'm completely clueless in these areas. But I know enough to know what I don't know. And that's where the survival trait comes in.

To borrow a phrase, I get by with a little help from my friends.

I don't use those smarts to brow-beat the others around me. I use them to add to my ever-growing repository of would-be collaborators. Collaborators I need not only for my own flights of fancy, but for external projects and opportunities that find their way to me.

Showcase your skills for free...

I'm incredibly proud and fortunate to have found a vibrant and rich community in Phoenix. In every project I've been involved with -- and there are many -- I'm constantly amazed at the amount of effort put forth by volunteers who ask for nothing in return. If you don't have that in your community, I'm very sorry. Work on building it.

It's out of those "free jobs" that I find the majority of my collaborators. I've been turned on to talented designers, legendary coders, non-evil SEO types, gifted writers, cerebral typographers... the list goes on. And while they probably don't know it, I've been indexing and cataloging their skill sets, waiting for the right opportunities to show up. And they have. And I've been happy to either refer jobs out, sub them out or even collaborate together so we all see income from the final products. That's what I do.

... but treat the free jobs like you would a real job.

But understand that Meritocracy is the law of the land. Assume that in every pro-bono job you do or community effort your a part of, someone watching has potential work for your or is a potential client. We're watching your efforts and the efforts of others around you. Yes, we appreciate you -- and the rest of us -- are working for free. Yes, we appreciate that you -- and the rest of us -- have other paying gigs that sometimes take precedent. But you should recognize that how you work on the free project is how we assume you'll work on a paid project.

The fact is that we -- like you -- have options. All things being equal, we'll go with those who have shown themselves to be dependable when they only thing they could count on was a "nice job" from the rest of us.

We're moving to a reputation-based economy. How is yours?

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