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Rare Bird Blog
Why Nobody Cares About 'Billions'
Wednesday, March 10, 2010
Here's a great idea about how you should present your business data to investors, prospects, or even just Mom: forget the billions. In a recent article, author and business plan expert Tim Berry explains that these numbers and this top-down approach just don't mean anything to anyone."As an investor, as a business plan contest judge, or as a teacher, I don’t really care how many billions of dollars are spent on this or that or the next thing when I’m reading a business plan. That number is too big. It tells me nothing."
He explains that what really matters, and what most of us can easily get our arms (and brains) around are the simple numbers; the granularity. For a web-based business, figure out what it will cost to get a single visitor to the site and how you'll do it. If you're a restaurant, tell me how you'll fill those seats on opening night and what you'll make from each customer. If you're the government trying to sell me a new healthcare plan, put it in terms of cost per doctor's visit or an average monthly premium. Then you can build forecasts from these details up into the larger numbers.
Especially for those companies in the business-plan-writing stages, this can be invaluable. Berry says, "I know that I’m in the majority, among people who read business plans, in really disliking the top-down, billions and billions kind of forecasts. When they start talking about getting only a very small percentage of an enormous market, they lose me. Those huge markets don’t split down into millions of pieces."
[Read the entire article]
Labels: business consulting, business forecasts, marketing
Can you afford to be authentic in business?
Wednesday, February 10, 2010
I often say that true authenticity– being exactly who you really are and nothing else– is one of the most important things you can do to help be successful in whatever you're doing. When I saw this article from Business in Blue Jeans CEO Susan Baroncini-Moe talking about some of the issues people struggle with when trying to be authentic, it really struck a chord. To wit:- We're all works in progress
- The truth has a way of seeping out
- It's not about appearances, it's about truth
- The real secret to gaining legitimacy is authenticity
I often talk with people who are afraid to be authentic for fear that they might offend someone with whom they hope to do business. In fact, the opposite is often the case. By being true to who you are, you're more likely to connect with someone, not offend them. And, obviously, connecting is far more beneficial than leaving no impression at all. Of course, you certainly run the risk of not connecting– even offending– someone by being yourself. But if the two of you are that diametrically opposed, you're unlikely to be able to build a meaningful relationship anyway. And wouldn't it be nice to know that right away?
If you're interested, read Susan's article on Authenticity in Business.
Labels: business consulting, marketing
One simple key to improving (nearly) everything
Thursday, October 29, 2009
Harvey Mackay, owner of Mackay Envelope, is widely known for his books and speaking engagements on sales. In his weekly column, he recalls the Broadway musical "My Fair Lady" to make a point:In the Broadway musical "My Fair Lady," Professor Higgins has driven his prodigy Eliza Doolittle to exhaustion teaching her how to speak proper English. The professor shows little acknowledgement of her hard work, even when her pronunciation improves markedly.
Later in the play, Eliza is again frustrated when her would-be sweetheart Freddie talks about his affection for her in romantic phrases– but keeps his clumsy distance and doesn't kiss her.
"Words! Words!" Eliza explodes. "I am so sick of words! I get words all day through. First from him, now from you! Is that all you blighters can do?"
Then she admonishes him: "Don't talk of stars burning above; if you're in love, show me! Tell me no dreams filled with desire. If you're on fire, show me!"
There is a profound lesson here for sales people, as well as lovers. Or, for that matter, for anyone trying to persuade someone to their point of view. An old proverb says: Tell me, and I will forget. Show me, and I may remember. But involve me, and I'll understand.
There's a profound lesson here for marketers, as well. He goes on to suggest that the four Ps of marketing–product, price, place, and promotion– should be supplemented with a fifth: personal, as in make it personal.
I couldn't agree more. Across the marketing continuum, we're seeing an ever-increasing move to make products and communication more personal. And, in this case, it goes beyond just personalizing a message with a first name or embroidering monograms. Mackay continues:
Plenty of products out there can have a name or monogram stenciled on, from jewelry to towels to furniture. Hundreds of thousands of U.S. businesses offer some level of personalization for their products. And this trend is certainly not slowing due to our ego-centric marketplace.
But to really hit close to home, I'm talking about making things personal by helping people understand how they will be affected. Showing people what a product or service will mean to them. Taking the pitch right to their level, so that it seems the product is made for them and no one else. Because in reality, it is.
Labels: business consulting, marketing, sales
Paint-by-Numbers or Blank Canvas?
Tuesday, July 14, 2009
In the April 2009 issue of Inc. magazine, Bo Burlingham interviewed Jim Collins (author of business best-sellers Built to Last and Good to Great) about the current state of entrepreneurship. There are several great insights, including this about the definition. Collins said, "I see entrepreneurship as more of a life concept. We all make choices about how we live our lives. You can take a paint-by-numbers approach, or you can start with a blank canvas. When you paint by numbers, the end result is guaranteed. You know what it's going to be, and it might be good, but it will never be a masterpiece. Starting with a blank canvas is the only way to get a masterpiece, but you could also blow up. So, are you going to pick the paint-by-numbers kit or the blank canvas? That's a life question, not a business question."The follow-up question was about risk, when Burlingham asked, "It has to do with your ability to handle risk, no?"
Collins replied:
"Not risk. Ambiguity. People confuse the two. There's lower ambiguity on the paint-by-numbers path: very clear but more risky. The entrepreneurial path: very ambiguous but less risk. Of course, the truth is that it's all ambiguous, anyway. If you think you can predict the future, you're crazy."
So, the question for you is, are you trying to create something good, or are you working on a masterpiece?
Labels: business consulting, entrepreneurship, marketing
How David beats Goliath (more often than you think)
Thursday, May 7, 2009
Underdogs win a lot more often than you think. Malcolm Gladwell explains how.
We're all familiar with the story of David and Goliath, where David stood before the giant of the Philistines and survived to tell about it. For forty days, Goliath had been dispensing soldiers with relative ease, until David came along. David rose to the challenge and, at first, girded himself with a helmet and mail and sword. But David recognized that waging this battle using conventional warfare would be suicide against Goliath. So he changed his strategy to take advantage of this strengths.
Malcolm Gladwell, in an article for The New Yorker, argues that this simple act of adjusting strategy is the key for weaker opponents – the Davids – to win against foes that greatly overpower them. He tells a compelling story of Vivek Ranadivé, who took on the job of coaching his daughters woeful basketball team, a bunch of “little blond girls” from Menlo Park, daughters of computer programmers. He says, “They weren’t all that tall. They couldn’t shoot. They weren’t particularly adept at dribbling. They were not the sort who played pickup games at the playground every evening.” Yet he was able to take them from obscurity to a national championship by changing the way they played: Instead of playing to the strengths of opponents, the adopted a relentless full-court press strategy and crushed the better-abled competition.
Gladwell suggests successes of this type aren't all that uncommon. In fact, political scientist Ivan Arreguín-Toft recently looked at every war fought in the past two hundred years between strong and weak combatants. The Goliaths, he found, won in 71.5 per cent of the cases. Thinking about the original David, who took off the heavy, unfamiliar armor and picked up five smooth stones, Arreguín-Toft wondered, when the underdogs likewise acknowledged their weakness and chose an unconventional strategy? He went back and re-analyzed his data. In those cases, David’s winning percentage went from 28.5 to 63.6. When underdogs choose not to play by Goliath’s rules, they win, Arreguín-Toft concluded, “even when everything we think we know about power says they shouldn’t.”
Which begs the question, what should you be doing to change the game to play to your strengths?
[Read Gladwell's article, "How David Beats Goliath"]
Labels: basketball, business consulting, coaching, daughters, David and Goliath, email marketing, strategy, underdogs, Vivek Ranadivé
Ducks Quack, Eagles Soar
Friday, December 19, 2008
It's been an interesting week. I had the opportunity to have a heart to heart with a friend and longtime client yesterday who asked for a little more... A little more attention, a little more time, a little more responsiveness. Our conversation reminded me how difficult it can be to manage growth and expectations at the same time.When I received this story from my sister today, it was yet another reminder that we *all* play a role in delivering exemplary customer service... all we have to do is do it. No one can make you serve customers well. That's because great service is a choice. Best-selling business author Harvey Mackay tells a wonderful story about a cab driver that proved this point:
I was waiting in line for a ride at the airport. When a cab pulled up, the first thing I noticed was that the taxi was polished to a bright shine. Smartly dressed in a white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for me.
He handed me a laminated card and said:
"I'm Wally, your driver. While I'm loading your bags in the trunk I'd like you to read my mission statement."
Taken aback, I read the card. It said:
Wally's Mission Statement: To get my customers to their destination in the quickest, safest and cheapest way possible in a friendly environment.
I was blown away. Especially when I noticed that the inside of the cab matched the outside: spotlessly clean!
As he slid behind the wheel, Wally said, "Would you Like a cup of coffee? I have a thermos of regular and one of decaf."
I said jokingly, "No, I'd prefer a soft drink."
Wally smiled and said, "No problem. I have a cooler up front with regular and Diet Coke, water and orange juice."
Almost stuttering, I said, "I'll take a Diet Coke."
Handing me my drink, Wally said, "If you'd like something to read, I have The Wall Street Journal, Time, Sports Illustrated and USA Today."
As we were pulling away, Wally handed me another laminated card. "These are the stations I get and the music they play, if you'd like to listen to the radio."
Then he advised me of the best route to my destination for that time of day and let me know that he'd be happy to chat and tell me about some of the sights or, if I preferred, to leave me with my own thoughts.
"Tell me, Wally," I asked the driver, "have you always served customers like this?"
Wally smiled into the rear view mirror. "No, not always. In fact, it's only been in the last two years. My first five years driving, I spent most of my time complaining like all the rest of the cabbies do. Then I heard the personal growth guru, Wayne Dyer, on the radio one day.
"He had just written a book called "You'll See It When You Believe It." Dyer said that if you get up in the morning expecting to have a bad day, you'll rarely disappoint yourself. He said, 'Stop complaining! Differentiate yourself from your competition. Don't be a duck; be an eagle! Ducks quack and complain. Eagles soar above the crowd.'
"That hit me right between the eyes," said Wally. "Dyer was really talking about me. I was always quacking and complaining, so I decided to change my attitude and become an eagle. I looked around at the other cabs and their drivers. The cars were dirty, the drivers were unfriendly, and the customers were unhappy. So I decided to make some changes. I put in a few at a time. When my customers responded well, I did more."
"I take it that has paid off for you," I said.
"It sure has," Wally replied. "My first year as an eagle, I doubled my income from the previous year. This year I'll probably quadruple it. You were lucky to get me today; I don't sit at cabstands anymore. My customers call me for appointments on my cell phone or leave a message on my answering machine. If I can't pick them up myself, I get a reliable cabbie friend to do it and I take a piece of the action."
Wally was phenomenal. He was running a limo service out of a Yellow Cab. I've probably told that story to more than fifty cab drivers over the years, and only two took the idea and ran with it. Whenever I go to their cities, I give them a call. The rest of the drivers quacked like ducks and told me all the reasons they couldn't do any of what I was suggesting.
Wally the cab driver made a different choice. He decided to stop quacking like ducks and start soaring like eagles.
[Note: Thanks, Nancy, for trusting us enough to have that conversation. And for reminding me that the Rare Bird's success has been due in no small part to soaring like eagles, not quacking like ducks. -Jim]
Labels: business consulting, customer service
Succeed in business: get the equation right
Monday, December 1, 2008
"I now get as much satisfaction from the challenges of keeping my restaurant fresh and exciting as I did from cooking. It is now more than twice as busy as it was and growing at 20% a year–teeming daily with regulars and newcomers."
Jonathan Rapp
Start with what the customer wants and go from there.This BusinessWeek article is about New York restaurateur Jonathan Rapp and his journey building a sustainable enterprise in the small town of Chester, Connecticut.
He left New York thinking his experience and reputation would be enough to succeed in the small town. He quickly learned otherwise. Says Rapp: "By Year Two, the trouble signs were too numerous to miss. Numbers were declining for both customers and revenue. There was a persistent drumbeat of criticism of virtually every aspect of the restaurant, except the food. No matter what we did, we couldn't shake the perception that we were too expensive, too “New York-y” (a nasty epithet here), and on top of that, had inconsistent, aloof service and a menu that was too limited."
He thought of selling, but after running the numbers realized he had nothing to sell. Quitting was also an unfavorable option, so he chose to take stock and try to turn the enterprise around. "I realized that I had the equation backwards," said Rapp. "I was making decisions based on what I wanted. In our own minds, we were the best restaurant around—but the fact was, we weren't connecting with our customers." Marketing Guru Seth Godin is fond of saying that you shouldn't create a product and then find a market for it. Instead, you should find out what the market wants and then create that product. This sounds like sage and obvious advice, but Rapp's story illustrates how easy it is to overlook it in practice.
So he fired his 'talented chef' that wouldn't adapt, formed a focus group of customers, and really dug into the community vibe of the small town. Specifically, he:
- Remodeled the restaurant to be cozier and more comfortable (less New York-y, to be sure)
- Began asking his customers what they wanted from a local restaurant
- Changed hours to be more accessible to when customers wanted to be customers (opening for lunch and dinner)
- Began communicating with customers on a regular basis to let them know what was happening in and around their 'community' restaurant
- Began collaborating with local artists, businesses and even other restaurants to create events and to reinforce their image as a member of an unique, thriving village.
The short article is worth the read.
Labels: business consulting, marketing, strategy
Daring Greatly: Rare Bird at 10 Years
Monday, July 28, 2008
In a few days, we'll be celebrating the 10th anniversary of starting Rare Bird. I woke up this morning with the words of Teddy Roosevelt on my mind, which I first encountered years ago in "The Norman Shield," the pledge training manual of Sigma Chi."It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat."
President Theodore Roosevelt
"Citizenship in a Republic,"
Speech at the Sorbonne, Paris, April 23, 1910
I'm not certain if "daring greatly" is entirely fitting, but I believe that we have experienced the great enthusiasms, the great devotions, and we are spending ourselves in a worthy cause. It's been a lot of fun and I'm looking forward to the next ten!
Labels: business consulting, writing
Business Consulting or Web Development?
Friday, December 21, 2007
Let's see... we talked about about design, site architecture, implementation strategy, marketing strategy...
I ran through a mental checklist... let's see, we talked about design, site architecture, implementation strategy, marketing strategy, product delivery, logo and identity development, branding issues and concerns, product pricing, sales efforts, post-launch PR and marketing efforts, beta testing, testimonials, and a few other things.
"Yes," says I, "that's a pretty good example of how these things go." His response surprised me:
"I'm surprised at how much business consulting goes on," he said.
Which is interesting to me, primarily because it can be difficult to define what we do. Obviously, we specialize in web development and new media, but there are so many other issues involved that we're providing a high level of business consulting at every step of the way. I just never really thought about it in that light before.
Thanks, Michael!
Labels: business consulting, marketing, strategy, web development