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Failure to Launch?

August 16, 2009

Tags: Albany marketing, change, marketing strategy, seth godin
Categories: Business Development, Courage, Decision Making, Management, Startups

I recently experienced a failure to launch.

The ambitious goals and strategies of my new business required that I recruit like-minded, motivated, and competent partners. When I found them, the fun and momentum of a new venture kicked in and we were soon off and running. Well, sort of.

Something wasn’t quite clicking. The idea and profit potential was there. The skill sets. The market need.

But just when you’d think things were ready to roll, another distraction would pop up. Went on like this for about a year.

Our wheels were stuck in the mud.

Time to change the wheels.

Not only did partners change, I chose a different type of partner.

Now we’re cruising down the road at 65mph, driving towards a relaunch with business in the bank and a growing pipeline.

Hitting the skids along your planned route is like the pain you feel when you’re hurt. It’s a warning system.

It means you’re faced with a decision of change – whether a mild adjustment or a major overhaul.

It’s important to maintain the perspective that almost every plan needs adjustments along the way to goal achievement.

Heed the warning and pause. Review your strategy, make corrections, and rededicate yourself to your vision.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Can You Handle the Truth?

July 26, 2009

Tags: Albany marketing, decision marking, Economy, Management, Strategy
Categories: Courage, Decision Making, Management, Marketing Blueprint, Strategy

You can say what you want about this economy, but the one thing it does is reveal the truth.

The truth about where you stand.

When I conduct strategy sessions with business owners and managers – The first thing I do is guide them towards a clear, unbiased view of where they stand at the current time.

Sometimes a company comes in on a winning streak. Sometimes it’s trending down.

Regardless, it’s imperative to distinguish the difference between the fundamental strengths and weaknesses of a business – and not let them become masked by outside factors. Like the economy.

Good times can mask weaknesses and strengths. But bad times show the blemishes your business has like a fluorescent light in the bathroom at 6am. It can be a little unnerving.

But it has to be done.

Like it or not, your core weaknesses and strengths have been exposed. Ask yourself some questions. Then ask yourself why?

- Have you lost key accounts?
- Are key employees leaving or showing up at your door?
- Are you unexpectedly winning clients you never could?
- Are you losing business that used to be a slam dunk?
- Have you been able to hold the line on pricing?

Believe me, you can’t blame it all on the economy.

Figure out what’s actually in your control?

The truth is, there will be fewer competitors in just about every industry when the dust settles. In fact, I believe that firms will be bought, sold, or fold in even greater numbers when things pick up a bit.

And the nation’s long-term problems will surely dampen any recovery once one does begin.

But that doesn’t mean there ain’t money to be made.

So there you are…basking in the bright light of truth.

Can you look at it long enough to do what needs to be done?

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Another “BRIC” in the Wall

July 5, 2009

Tags: Albany marketing, alliances, joint venture, partnerships
Categories: Business Development, Management, Marketing Blueprint, Product Development, Strategy

While we were sleeping, a truly monumental event took place.

The four main developing powers in the world – Brazil, Russia, India and China held the first ever BRIC summit. Their hope is to challenge the economic dominance of the West – namely the U.S. and Europe – and to challenge the dollar as the main global currency.

For now, the differing agendas and styles of these countries are a major obstacle to creating a united front. But mark that date, June 16, 2009, as a day when the “American Century” more formally transitioned into the 21st century of global economic balance.

Meanwhile…on the home front

Partnerships among nations is a real big bite to swallow all at once. But I believe that partnership strategies will move full speed ahead all around our businesses.

Not too long ago, outsourcing was both a way to save money and a dirty word. That tainted reputation resulted from the movement of service and manufacturing jobs to India, China and Mexico among others.

What many may not know is that over 80% of all U.S. outsourcing is sent to other U.S. companies. All sorts of non-core business functions like; Marketing and Sales, Human Resources and Accounting are sent to firms more proficient in those areas.

Outsourcing is simply one type of strategic partnership.

Done right, partnerships can help participants create and capitalize on new economic opportunities, become more competitive, grow and create jobs.

Another partnership type, joint ventures with complementary businesses, can open up new revenue possibilities, increase your available talent, and lower costs. The same can be accomplished via a strategic alliance.

As the economy begins to find its bottom, and the lull of sunny days are upon us – put your business under the microscope.

Are you reaching all of your potential targets? Are you maximizing the revenue from your existing client base? Are you missing certain products and services that can generate more income?

If so, believe me you’re not alone.

You might be the answer to another company’s need and vice versa. It’s up to you to find out.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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A World Disturbance

May 17, 2009

Tags: Albany marketing, business change, marketing trends, saratoga marketing
Categories: Courage, Decision Making, Management, Strategy

I start nearly every day by checking email. You may hop in the shower or choke down a breakfast bar.

Some finish dressing with sock-shoe-sock-shoe. I’m a sock-sock-shoe-shoe man.

Habits. We are all creatures of habit.

These rituals provide consistency and comfort. They help us deal with a complex world.

Customers are creatures of habit. Companies are creatures of habit too. And old habits die hard. Problem is, if some habits aren’t broken – the results can be devastating.

Lately, I’ve been thinking a lot about habits. What changes them, where things might be going, opportunities, and threats. And the potential actions we may want to consider as a result.

There’s something life changing going on. I can’t quite put my finger on it and I need to – we all need to.

There’s a world disturbance upon us. It’s the sum of many factors.

Here are just a few:

- 24 x 7 communication and the Internet

- World trade and shifts in global economic power

- An unfocused effort towards alternative energy

- Heightened fears from all sorts of stuff; too many to name

- An aging population in the industrialized world and a younger one in the Third World

Did you know that of the 6.7 billion people on the earth, China and India account for over 37%. The U.S. has 4.5%.

Think these things aren’t about marketing? Your business? Your family?

It all plays a part. Old habits and expectations are going to change. It takes a world disturbance. A series of cataclysmic events. That’s what forces them to change.

And you know what? It can be a good thing. A very good thing.

As long as you recognize where it’s all going.

When I need to get a handle on something, I usually think it through out loud. I hope you don’t mind, but I’m gonna think out loud right here.

Feel free to add your thoughts.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Start Slow To Become An Overnight Success

April 12, 2009

Tags: albany blogs, albany business development, albany leads, Albany marketing, Social Media
Categories: Brand/Reputation, Business Development, Customer Focus, Lead Management, Lead Nurturing, Management, Marketing Blueprint, Marketing ROI, Strategy

Recently, I’ve been running into some business owners who are starting to ask some really good questions.

There is opportunity now. But where? With whom?

I need to hang onto my customers What’s the best tack to take?

I’m determined to get aggressive. Where’s my best bang for my buck?

Last year’s questions might have been about branding, advertising, or how to go “viral”. Many wanted to talk about that. And agencies are only too happy to oblige as these are the highest margin products and services they sell.

Today it’s different. It will stay different.

The right questions to ask today are who, what, and what’s the return on that? For the most part, that means starting with the few and working outward.

Back on April 2nd, Seth Godin wrote a little about this approach. Begin with 10 utterly loyal clients, friends, associates, etc. and work from there. Start slowly and let it build.

Depending on your situation, the place to start is with your team, moving onto your key customers, and then finally to dedicated FOOs (friends of the organization).

Let your team in on the secret…you need them. They need you. You both have roles to play. Yours is to lead – provide vision, direction, tools, and resources. Theirs is to perform their jobs with gusto. Relate to customers better than ever. Spread the word with more sincerity and urgency. Share ideas.

Strength in numbers

Same with your customers. Not only do you want to keep your important customers happy, you also need them to know that you need their help to succeed with other customers as well. Testimonials, invitations to present within their circle of influence, and asking for their ideas is not only helpful, it can also be flattering.

FOOs can also be a fountain of good ideas. They have exposure to other industries, competitors, and can help you get a handle on things that might be working for others. Also, because they typically have no axe to grind, any referrals from them, even those that may not lead directly to business, may lead to something more concrete.

Bottom line? Yes, there is opportunity now. Yes, there are customers out there up for grabs. Most of the best ones seem to be laying low.

Now’s not the time for a big splash. Now’s the time to throw a bunch of pebbles into the water and make many little ripples. In time they’ll all connect to make a big wave.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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It’s Up To You

March 8, 2009

Tags: albany leadership, Albany marketing, business leadership, business management, business vision, leadership, recession leadership, saratoga marketing
Categories: Courage, Management

This is an emotional time. One that brings out the best and worst in people. Your job is to sort though the emotions and keep the ship on course.

Franklin Delano Roosevelt’s first inaugural address contained the immortal words: “the only thing we have to fear is fear itself.”

As a business leader, today’s daunting challenges should have those words ringing loudly in your ears.

Market confidence, access to capital and desperate competitors are the major external threats. Internally, the most imminent danger is posed by coworkers, employees, friends and even your family losing their faith in you and your mission.

Action speaks louder

As their hope wavers, you will feel the pressure of their fear. The greatest danger of all is that you might abandon your vision because you too will have become infected. Leaders don’t have that option.

We are experiencing an extreme crisis of confidence. As a leader, it is up to you not to lose your way.

One of your primary tasks is to rally those around you. Give them the comfort of your vision and the inspiration of your action.

Opportunity is there to be had for a clear headed leader. But be warned; you will be challenged supremely from within your own walls. Key people will be driven by the fear of FDR warned us of.

They can eat you alive if you let them. So don’t let them.

Strength. Humility. Responsibility.

Now is the time when your leadership is confirmed. It is lonely. It is frustrating. It is angering.

But you will be the one left with the satisfaction that you have thrived. Created something important. Improved the lives of those to whom you provided leadership. So you need to summon all your strength.

You will also need to remember that leadership is not dictatorship. It is recognizing that you need to ask for help and express unyielding confidence in those you depend on to be a part of the solution.

So humility is an essential part of your leadership,

Some, however, you will discover can not be led. They will not follow either. They will simply linger with their fear, anger,and discontent.

Replace them. They do not fit. This is your responsibility to your business and to all who are associated with it. A house divided amongst itself cannot stand.

These times present an extraordinary opportunity to upgrade your talent. So many successful, motivated people are hungry to be a part of making a worthy goal a successful reality. Some are already on your team – waiting to surprise you with their talent, ingenuity and determination.

You may find that there are points when the burden of leadership is almost too much to bear. You will not be alone. Find support and camaraderie with fellow leaders. There are informal groups that provide a safe place to share your challenges with other business leaders. Allow yourself to reach out to your former mentors.

The Courage to lead. Humility to trust. And Responsibility to recruit and retain those that fit your vision.

These are the qualities of leaders who will emerge from this historic period of economic transition.

Find them within you.

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Obama Therapy

January 25, 2009

Categories: Brand/Reputation, Customer Focus, Management, Marketing Message, Social Networking

The endless drone of monumentally bad news and unfathomable events has left so many Americans, no, citizens of the entire world, numb. It seems as if 2 or 3 billion people are suffering from a form of PTSD – except the trauma goes on.

I don’t think its a far stretch to say that the population in general has reached a state of clinical depression. An erosion of hope will do that to you.

That brings us to Barack Obama.

It doesn’t really matter what side of the political spectrum you’re on. There’s no denying the election of and inauguration this week of Barack Obama has had a therapeutic effect here at home and around the world – even if its temporary

That’s because the restoration of hope makes people feel better.

For a brief moment, we witnessed nearly all Republicans and Democrats put aside their rooting interests to soak it all in. Sure bluebirds and butterflies aren’t flying around as world peace breaks out.

But did you notice the faces of the throng on the Mall?

Did you see the faces of people as they celebrated President Obama’s inauguration in dozens of countries around the world?

Did you hear the the words of worldwide political leaders - those we perceive as both friends and foes – as they optimistically, some cautiously, welcomed a new beginning to their relationship with the United States? (Except of course the most extreme nations.)

I’m not talking politics here, I’m talking human nature.

Sayings like “no man/woman is an island” and “you get more bees with honey than you do with vinegar” have their roots in effective communication and relationship building.

The world has immense challenges to face down. Frankly, we all have immense challenges to face down, don’t we? And in the business context – your customers have immense challenges to face and obligations to meet. They’re suffering from PTSD too. They need therapy. They need hope.

Take a lesson from the symbolism offered by the Obama inauguration. Offer leadership and hope to your customers, staff, and all those in your business community. Don’t sugarcoat things though. People know a phony when they see one and it’ll only piss them off.

Rather, tell it like it is and then share your vision and a real plan of action. Ask for their help.

Then watch their faces light up.

Here’s a simple 5-step plan for your customers and your team:

Tell them “We’re strong now – and you’re the reason we are.”
Follow with “Nobody can stay strong forever in an economy like this without help.”
Share a vision and a basic plan for how they can help.
Ask to talk to them about their ideas.
Listen. Really listen. Then Act.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Where’s Your Hudson River?

January 18, 2009

Categories: Brand/Reputation, Business Development, Courage, Customer Focus, Decision Making, Management, Marketing Message, Strategy

So there you are. Having a cup of coffee and gazing out your apartment window at the Hudson. It’s an afternoon ritual. Instantly, you hear a loud screeching noise and a jet airplane screams past your window. Then it seems to float to a landing on the Hudson River adjacent to midtown Manhattan.

Takes your breath away.

By now I’m sure you’ve heard the story of how the extraordinary landing executed by captain Chesley B. Sullenburger II saved 155 passengers and crew aboard a US Airways flight a few days ago.

It was clear thinking and decisive action in the middle of a crisis that made this latest “Miracle on 34th Street” (according to NY Governor David Patterson) possible.

Now we should all follow his lead.

Economic chaos continues to influence the mindset of businessowners and consumers. Here in Albany, the NY Capital Region, fear and uncertainly are taking hold despite being somewhat insulated from the dire circumstances in other areas.

And again I say you may never have a better time to build your business.

A study of the economic mess accelerating from 1972 – 1974 shows the following figures:

Dow Jones Industrial Avg (from highs):    – 45%
Unemployment:                                      7.2%
Inflation:                                                12.3%
30 year Mortgage:                                    9.8%

Now the same figures for 2006 – 2008

Dow Jones Industrial Avg (from highs):    – 45%
Unemployment:                                    7.2%
Inflation:                                                  5.6%
30 year Mortgage:                                  5.1%

The market drop and unemployment rates are bang on. But the rate of inflation and interest rates are significantly lower. (of course inflation ultimately has to be affected by over a trillion new dollars in the system.) Money is cheaper and prices are still relatively low. Business is still being done.

Do you think everyone folded up their tents in the 1970s. Certainly not. Those with clear heads and a strong vision backed them up with decisive action and created some of today’s biggest success stories.

Companies founded in the 1970s

Southwest Airlines
Microsoft
Apple
FEDEX
Oracle
SAS
Genentech

I wouldn’t have minded buying a few shares in these guys back then. Point is, amid all the doom and gloom – while your competitors are hunkering down in the corner thinking about survival – there are success stories being written all around you.

If your mindset is only about survivial then I’m afraid you may be one of those eaten in a jungle containing a few more cunning predators.

Take Action

Hone your message for the times - How will you help customers make money, save money, or save time?

Build a moat around your customers – tell them how much they mean to you and ask for their help. Same for vendors.

Target the customers of your competitors – they’re just waiting to be eaten.

Deploy a smart, targeted communications campaign to begin new conversations – Customers want answers and they need leadership.

Find others to join your community and market cooperatively.

Follow the lead of captain Sullenburger. Clear away the fog of chaos and sharpen your vision. Take decisive action. You’ll not only survive, you’ll be a hero to your customers, vendors, competitors, community, and family.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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2009: A Roadside View

December 28, 2008

Categories: Business Development, Courage, Decision Making, Management, Marketing ROI, Social Networking, Strategy

I’ve always considered this upcoming week to be like one of those roadway scenic turnouts. You pull over to stop and check out the view. Only this year, we don’t know what’s around the next curve. Be aware, it’s under construction.

Many find this last week of the year a good time to reflect and look forward. Top 10 lists are everywhere. People like lists.

Well here’s a list for you right now – the top trends of 2008. It’s a list of one:

1. Permanent Change

What’s going on in our lives and our country is no short term phenomenon. Its here and its permanent. The economy will recover, but not in the way we’ve become accustomed. There are numerous reasons for this. Among them are mounting debt, the evaporation of economic bedrocks, and a true ‘new world order.’

Sometimes it feels as if it’s all come on at once. But of course this change has been coming for some time.

It doesn’t have to be painful.

I strongly believe this nationwide transition can be a good thing. A VERY good thing. America has been and remains the land of opportunity; historically fueled by creativity, initiative, and guts. Here we have an opportunity that comes along only once every lifetime. A chance to reinvent ourselves and create a new course to prosperity.

And from my perspective, one of the key trends I see playing a big role in our new prosperity will accelerate in 2009 – the development of national and local community.

Look for signs of increased collaboration, more productive online social networks, and a focus on ‘psychic compensation’ as signs of new economic and social realities.

-> [You can read more about these trends in the full article]

From a marketing service perspective, strategists and creatives will be forced to stretch further than ever. We’ll need to use our skills and imagination to directly help produce sales – and for less cost. Forget pretty pictures and cool animated graphics – make the phone ring.

We’ve got a week ahead to help us catch our breath. Take in the scenery of the past year and imagine what it’ll look like in the years ahead.

We all have a major transition coming on. Don’t fight the trends. Make the most of them and you’ll enjoy the view.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Some Direct Advice

December 14, 2008

Categories: Brand/Reputation, Business Development, Courage, Customer Focus, Decision Making, Management, Strategy

The sky isn’t falling. Yet.

And while I truly believe that opportunity comes out of chaos and market uncertainty, today is not the time to wax theoretical. Today we acknowledge the 1,000 lb gorilla in the room. Economic conditions are brutal…and they’re getting worse.

{warning: if you’re squeamish, you might want to skip this next paragraph]

Amongst the stockpile of economic news, here’s the event that clinched it for me: Last week the U.S. Treasury sold $30 Billion in 4 week T-Bills at a rate of Zero Percent. This happened on the same day that rates on 3 month Treasuries turned negative for the first time since they began selling them in 1929. What’s this mean? It basically signals that institutional (read: BIG) investors would rather provide the government an interest-free loan than invest elsewhere. Some even seem willing to take a guaranteed loss on their money than take any other risk. [story here]

Wow. That’s something. Even in a week where Congress denied the nation’s automakers a government bailout (for now), news that institutions continued to stampede towards the relative safety of short-term government debt despite Zero percent interest tops my radar. Fear rules the day.

Bring the Marshmallows

My goal when writing this column is to translate my observations and experience into information and ideas I hope you can use to build your business. Most times I tell stories to make a point. People tell me it’s more interesting that way.

No stories today, just some direct advice. At the risk of sounding like a one trick pony (I’ve been writing a lot about this lately), if you haven’t already begun to do so, please formulate and execute your plan for building and activating alliances.

Embrace your staff and contractors. With the holidays upon us, you may find it a good opportunity to include their families in a more personal fashion. Don’t cancel the holiday party. If necessary, have it at your home. Don’t isolate people, connection is more important now than it ever has been.

A holiday card just won’t do it this year. You need to ‘touch’ every one of your customers. Retail store owners: Walk the floor and shake hands with a word of thanks – to customers and staff. Senior managers: Visit all key accounts and top producers. Executive Directors: Personally call all top and second tier donors and have associates call as many others as they can to share your plans. Keep in mind that if you don’t take the time, your competitors will.

Aggressively reach out to other businesses that touch your customers. Become part of a select group of like-minded businesses and coordinate your marketing message to maximize its reach. Protect each other. Nurture each other. It’ll take some leadership. If you don’t know how to start or who to approach – get help.

Here in the Albany area, we were hit with a massive ice storm this week that left about 1/3 of the population without power. It was cold, dark, and lonely. Those left alone always face the greatest risk.

Thriving in this economic ice storm requires us to huddle together for warmth. Everyone’s afraid. Start a campfire.

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

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Burst Marketing

Failure to Launch?

Can You Handle the Truth?

But it has to be done.

Another “BRIC” in the Wall

Meanwhile…on the home front

A World Disturbance

Habits. We are all creatures of habit.

Here are just a few:

It’s Up To You

Action speaks louder

Strength. Humility. Responsibility.

Where’s Your Hudson River?

Now we should all follow his lead.

Take Action

Some Direct Advice

Bring the Marshmallows