Modern Man Tells All

Business: Old School vs. New School

noreply@blogger.com (Anonymous) — Tue, 18 Nov 2014 16:30:00 +0000

As we all know everything has changed since the financial collapse of 2008, but how exactly have businesses changed? I'm going to break it down to its simplest form in this "old school vs. new school" post. Alright, here we go! (seasonally appropriate colors are a coincidence)

Old school: Profits above everything else. New school: Triple-bottom line (Economic, Environment, Social).

Old school: Keep business units separate. New school: Integrate cross-functional teams.

Old school: Large capital investments (infrastructure, people, resources, assets, etc.). New school: Bootstrap.

Old school: Pleasing shareholders is the be-all-end-all. New school: Equally pleasing shareholders and stakeholders.

Old school: Very few industry players. New school: Ultra-competitive across industry.

Old school: Focus on short-term goals and gains. New school: Focus on long-term sustainability.

Old school: Put all eggs in one basket. New school: Have multiple baskets.

Old school: Productivity measured by how long/how many hours worked. New school: Productivity measured by how much you get done.

Old school: When facing declining profits -- cut, cut, cut, no matter what (mostly employees). New school: Do what you can to keep the team in place.

Old school: Vertical hierarchical structure. New school: Horizontal organizational structure.

Old school: Money flows up to executives at the expense of employees. New school: Money still flows up, but in a more balanced way.

Old school: High barriers of entry. New school: Low barriers of entry.

Old school: Control of consumer behavior. New school: Consumers have the power.

Old school: Cold calls. New School: Social Media.

Old school: Huge slow moving entities. New school: Lean and agile.

Old school: Mimic successful traditional business models. New school: Disrupt.

Old school: Move slowly when making business decisions. New school: Adjust and implement on the fly.

Old school: Managers and Execs have all the power. New school: employee empowerment.

Old school: Traditional Advertisements (TV, Print, Billboards, etc.). New school: Social Media, Blogs, Online videos, Mobile, Podcasts, etc.

Old school: Power/Control economy (control every aspect of business). New school: Sharing economy.

Old school: Heavy investment in human capital. New school: Automate.

Old school: Cubicles. New school: Open.

Old school: Work harder. New school: Work smarter.

There are definitely more differences between businesses of today vs those of 10, 20, 40 years ago; however, these are the main ones I could think of off the top. Obviously, each should be defined further but that can be done by researching the internet, going to a top business school, or hiring a consultant. I do understand that few things in business still remain: bring in more than you spend, bottom line, good/great leaders, innovation, customer service -- to name a few.

If you have any others that I have missed, feel free to list in the comments section. I'm curious to hear what others think.

Until next time.

ModernManTellsAll

One of my favorite bloggers out there: Ramit Sethi

noreply@blogger.com (Anonymous) — Tue, 11 Nov 2014 20:11:00 +0000

I chose to share this post, which was recently done by Ramit Sethi. The post is about a man, Chris Guillebeau, that Ramit met during his travels years ago and have remained great friends (for obvious reasons). Chris is an inspiration to any modern man, and women for that matter. In 2002 he made it a mission of his to travel to every country in the world, which has now reached 193 -- ALL of them!

Check out the full article in the link below, and let me know if you're as inspired as I am to attempt to do the same!

http://www.iwillteachyoutoberich.com/blog/why-you-should-start-a-quest-with-chris-guillebeau/

Success: It's your choice

noreply@blogger.com (Anonymous) — Thu, 06 Nov 2014 16:19:00 +0000

Everything you do in life is a combination of past experiences, choices you make, hard work and preparation. I am tired of all the people that believe things happen by luck or chance; or only to those that know the right people, have money, etc. Success is something that is earned not given or guaranteed, and most certainly not forever. Further, success is not a predetermined factor of something, nor is it defined the same from one person to another. Success could mean making a lot of money, moving up at your job, providing a valuable service or product to society -- bettering human kind; helping out friends and family, meeting the right person "soul mate", living in the city and neighborhood you choose and want to live in, graduating college/grad school/phd; hell, it could be getting 10,000 Twitter followers, who knows! Success could be anything, as a matter of fact one person's view of success may be anothers view of complete failure. It all depends on how you view life and what you want out of it while you're here.

The harsh reality of success is that you will, and should, fail; it's all about how you react to it, and how much tolerance you have for it. Do you get depressed and beat yourself up? Or do you say, I failed this time, and I learned this and that, now I'm going to do this. You can look at all of the ultra-successful people: Steve Jobs, Richard Branson, Henry Ford, Thomas Edison, etc., and what you will find is that the amount of success they've had is directly related to the amount of their failures. Elon Musk almost went broke when Tesla hit a rough spot a few years ago -- investing his last $100 million. You can even look at the recent law upheld in Michigan that disallowed Tesla from selling its cars directly to consumers; do you think he will give up? Or will he use it as a motivator to drive his and Tesla's success? I believe it will be the latter. If people stopped doing what they were passionate about and at every misstep or roadblock, we'd still be riding horses, living in a segregated society; there'd be no smartphone, social networks, or personal computers for that matter. Look at the recent mishap with Virgin Galactic where a rocket plane exploded and killed the pilot. Do you think this will halt Virgin's progress on this venture? Should it? Absolutely not! Richard Branson actually said, "Space is hard but worth it. We will preserver and move forward." Virgin Galactic's CEO, George Whitesides, took it one step further by stating, "We owe it to the folks who were flying these vehicles, as well as those who have been working so hard on them, to understand this and move forward. And that is what we'll do." Could they have decided to stop everything and reevaluate their decision to bring space travel to the everyday (rich) consumer? Yes, absolutely, however, they CHOSE not to; they CHOSE to move forward and learn from their mistakes and persevere.

That is the whole point. It is the choice of the individual to succeed or give-up. So you lost your job or went through a bad break-up, what you do next and how you react is up to you; it is your choice. Which brings me to something else that is relative to choice, and that is experts are not born. Michael Jordan did not come out of the womb crossing people over and dunking on them; he busted his ass day in and day out -- he earned being the best. He chose to put in the work, accept failure, and was never satisfied with where he was at -- he remained hungry. There are countless of individuals that reached the top by ignoring all the critics and just putting their heads down, focusing on mastering their desired skill.

The real test is how many times can you accept failure before you say screw it, I'm going to give up or try something else. How determined are you to get what you want out of life? According to one of the greatest thought-leaders of our time on success, Napoleon Hill, most people will give up at or before the 3rd failure. If you think about it, this truly holds ground when you think of the amount of people that have a job they can't stand, but are frozen in fear of what the other side looks like -- the unknown. The numbers are actually staggering, as over 70% of Americans hate their jobs! To me this is astounding, particularly since we spend over a third of our lives at work, and that third is of the most precious as that is when we are young and healthy enough to enjoy our lives and do things that actually mean something, make us happy, etc.

All this goes back to our mindsets: Do you believe in limitations? Are you afraid to try something new? Are you a leader or a follower? When approached with a challenge do you accept it graciously regardless of the potential of failure? Or do you runaway and accept that you will never be able to do it and would rather avert the potential of being seen as a failure? The choice is yours! I know what I would do!

Whew! I would say I apologize for the rant but I won't, as I feel very strongly about this; no matter what people may say or the outcome, the choice is yours whether or not to do something that you feel passionate about.

Hopefully this motivates someone, or at the very least gets others to think about their current situation, where they are at and what they want to do. The purpose of every human beings life should be to reach their absolute potential -- not to mention it would be good for the world and the economy.

Remember, it's not how many times you get knocked down, all that matters is that you get up one more time.

Until next time.

Cheers,

ModernManTellsAll

Marketing: Building a rock solid SEM strategy

noreply@blogger.com (Anonymous) — Tue, 04 Nov 2014 18:37:00 +0000

SEM or Search Engine Marketing is revolutionizing how marketers and businesses think and market to their target demographics. With more people than ever using online search engines (Google, Bing, and Yahoo!) to purchase products/services, research companies, locate businesses, and read informative content, a rock solid SEM strategy is essential. SEM is a great way for a company to build brand awareness, increase website traffic, and drive sales and growth. Without an effective SEM strategy and online presence, companies will lose out on potential qualified leads, increased market share, and revenues that drive growth.

So what does an effective SEM strategy look like? For the most part it will vary from company to company as budgets and consumer behavior will differ. Furthermore, business models will dictate what metrics and KPIs are most important. For instance, if a business is a local brick and mortar style operation, then walk-ins, and phone calls would take precedence. On the contrary, if a business is an e.commerce website and the majority of their sales are made online, then driving traffic to the website and increasing conversions are of high importance. That said, there are some basic steps that must be designed, implemented, and executed in order for any SEM strategy to be successful: Define key campaign goals/metrics, track all key conversions, and monitor and optimize key metrics as needed.

Define key campaign metrics/goals:

Defining key campaign metrics and goals should be the first thing done prior to designing and implementing your SEM strategy. Key metrics and goals will vary, however, some ideas would be: Increasing website traffic by 30%/month, increase call volume by 50%/month, increase sales by 60%/quarter, increase walk-in traffic by 25%/month, increase newsletter subscriptions by 15%/month, etc. Once you have defined why you are implementing a SEM strategy, you should input said goals directly into your AdWords or Analytics platforms for ease of tracking. A SEM campaign that has the goals of increasing foot traffic to a brick and mortar looks different than one that has the goal of increasing online conversions. Having a predetermined set of goals will enable a company to focus only on what is necessary to their specific goals, thus saving money and maximizing efficiency.

Implement conversion tracking for all key goals/metrics:

If your SEM goals are to increase phone calls you will want to track which ads are converting and which are not, and the only way to know is to enable the appropriate conversion tracker. This can be executed in AdWords or a third party services such as Response Tap, Call Rail, Call Tracking Metrics, etc. Without the appropriate tracking method in place there will be no way to determine how or why phone calls have increased or have fallen off; which keywords and ads are working and which are not, etc.

Let's say you are a blogger and want to increase your subscribers by 25%/month so you decide to try SEM; therefore, every new subscriber would be a conversion. With this in mind you would want to track all users that click on your ad and then proceed to subscribe to your blog. This is easily done within your AdWords campaign interface. Again, without conversion tracking there is no way to know how many new subscribers have come from your SEM campaign, which ads are working and which are not, and if your SEM campaign is providing an optimal ROI.

The same can be said for an e.commerce website that wants to increase its online purchase conversions. You will need to identify which webpage(s) on your site, typically a "Thank you" page that appears after a purchase has been made, to implement your conversion tracking. This will enable you to see which ads/keywords led to the conversion, and the who, what, where and when the conversion happened.

Monitor and optimize key metrics as needed:

Once you have all your metrics and goals identified and have implemented the appropriate conversion tracking methods, you will need to monitor, compare, and optimize the data in your SEM campaign. Let's say you set out for a 100 new visitors/month to your website. Google Analytics will enable able you to benchmark your monthly visitor stats against the goals you set at the beginning of your SEM campaign. Maybe, your campaign has fallen short by 25 visitors, well you'll need to go into your AdWords campaign and find out which ads and keywords are converting and which are not, and take the necessary steps to rectify the situation. Or let's say you wanted to increase your call volume by 25%/month and your conversion tracking is telling you you have increased your call volume by 35% this month. That is great, this would mean your SEM campaign is working based on your initial goals, therefore, you may want to increase your budget, hire new sales staff, etc., of course this is based on if your sales goals are being met as well. You may have an increase in call volume, but the percentage of sales converted have decreased significantly. This is where you would want to optimize your SEM campaign accordingly to ensure your ads and keywords are reaching the right customers.

Optimization of an AdWords SEM campaign can be quite complex and is not recommended without professional consultation; however, if you do choose to handle this on your own be sure to start off with only the basics as far as KPIs and measurements. Additionally, it is of great importance to review and compare your data on a regular basis and make calculated decisions based on your analysis. Remember to allow enough time to collect enough data, I like to wait at least 30 days or so prior to making any decisions. And when you do make changes, only make one or two at a time, then run reports again 30 days later to compare and contrast -- ensuring the decisions you've made are actually working.

As always, I'd love to hear your comments and thoughts on this topic.

If you are in need of any business and/or marketing consultation, feel free to shoot me a brief introduction note at: modernbizstraetgy@gmail.com.

Cheers,

ModernManTellsAll

Entrepreneur: Be Disruptive

noreply@blogger.com (Anonymous) — Tue, 28 Oct 2014 18:21:00 +0000

It has been well documented that it is easier now more than ever to start a business. I hope you get as excited as I do when I read that sentence. The ease of starting a business now is due to the evolution of technology, its efficiency and effectiveness, increased reach, and affordability. Think about all the apps and websites out there that offer business management tools and creative interfaces that are user-friendly and very affordable, sometimes even FREE. Moreover, the quality of these services and products are getting closer and closer to what a professional accountant or graphic designer would charge premium dollars to execute. So what does that mean? Start a business NOW!? Well not exactly, as the barriers of entry fall, the more competitors enter the market, the lower the profit margins become, the more a company has to innovate and disrupt.

Disruption and innovation have always been essential for new companies entering an established market place with many competitors and industry leaders. The only difference now is that everyone and anyone can start a business and enter a market place; no matter the location, access to capital, or industry experience. However, just because it is easy to start a business does not mean you should, or for that matter, if you do it will be successful, make you rich, etc. I believe it is the opposite. Yes it's easier, and you can start and run a global business from the comfort of your own home, but that just means there are more people doing it and most likely failing at it.

When you enter an established market place it is more important, now more than ever, to come in and make a splash, shake things up, and make a name for yourself as quickly as possible. Disruption is, in my opinion, the most important attribute any SMB or Start-up should posses. By definition disruption is a disturbance or problems that interrupt an event, activity, or process. Therefore, as an entrepreneur that has an idea or wants to launch a business, the first things you should ask yourself is, how can I disturb and/or interrupt the existing market place. How can I get my product/service out into the market place with the least amount of resources (capital, people, infrastructure, etc.)? Without a disruptive plan starting and launching a business can be difficult, far more difficult than with a plan to disrupt the market. Think about it, you want to start a car/ride sharing business but plan on replicating the existing taxi and limo service business models. What do you think your chances are in capturing even a fraction of a percent of market share? I'd say slim to none. These services have been in existence for 50 plus years, and are entrenched in every major city with strong unions and political leverage.

So what do you do? You disrupt the market, interrupt the normal way of doing business. You innovate. You change the way things are done. You let the competition know you are for real. You capture as much market share as you can, and quickly! Look at what Uber and Lyft are doing. They are now approaching the market leaders in this space, with the taxi and limo unions doing everything they can to stop them, or at least slow them down. They leveraged technology to disrupt an inefficient, archaic business model, which is happening across many long established industries: Music, Entertainment, Razors, Higher Education, Business Management Services, Financial, Automotive, etc. Disruption is happening everywhere and it is only going to continue. It is essentially the new economy where entrepreneurs, SMBs, and Multi-Nationals are in a race to see who can shake up the market place, drive revenues, and become/remain market leaders.

With that said, should you start a business? I can't say for sure as that is up to you. However, if you do, make sure you have a disruptive plan in place from the jump. Do not start a business thinking you'll be able to compete using traditional methods, business models, and techniques. Go in and disrupt the market place, shake things up, challenge the norm, innovate, and be unique!

As always, I'd love to hear your comments and thoughts on this topic.

If you are in need of any business and/or marketing consultation, feel free to shoot me a brief introduction note at: modernbizstraetgy@gmail.com.

Cheers,

ModernManTellsAll

Business: You don't know my Industry

noreply@blogger.com (Anonymous) — Thu, 23 Oct 2014 18:02:00 +0000

The misconception business owners have when dealing with consultants is the fact that they believe since said consultant does not work in their industry they cannot help them fix the problems that exist. This may have been true ten, twenty, thirty, fifty years ago, however, in today's world, where everything/everyone is connected, information is easily accessible, the industry and competition can be researched and analyzed effectively and quickly; not having worked in an industry is irrelevant. Furthermore, business is business and competition is competition, as long as thorough research has been conducted a consultant, or a competent consultant for that matter, should be able to identify the primary issues a company is having within two or three weeks, and design and implement a strategy a few weeks thereafter. To be honest, in my experience the major issues that the majority of SMBs/Start-ups that I meet with and consult for are very similar with minor variances according to the industry. For the most part the issues stem from fundamental business practices and processes: Lack of organization, lack of clearly defined goals (leadership), lack of data tracking, and lack of communication.

As you can see, these common issues have absolutely nothing to do with a particular industry or business. The problem with a SMB or start-up that is experiencing growth, which is a great thing, is their resources get drained and everyone is consumed in the day-to-day and forget about or failed to implement the fundamental foundation of any successful business; and by the time a consultant is needed, problems have compounded to a point where a company can become essentially paralyzed. That said, a professional, well-trained business consultant could easily rectify these issues rather quickly. As long as the company leaders are in agreement, upfront and honest with the issues, and are willing to commit to a well-defined plan/strategy, things can turn around and the proper processes can be in place. Just don't use the excuse of you do not know the industry, as that is of no use to anyone.

In my experience companies that are able to implement basic business processes prior to launch or within the initial launch phase are the most successful and are able to accelerate growth rather quickly. I know the fun/glamorous part of running a SMB or start-up is working on something you are passionate about and with a team of people who share that passion; however, that high will only last so long before the company hits a road block (e.g. runs out of money). As much as we all love to be in the trenches and creating something new and of value, without capital investments the product/service will not make it to market, or if it does the lifespan will be limited.

My advice to anyone in this position is to take the time to design and implement fundamental business processes prior to launch -- even before hiring. At least have an outline of what processes are ideal for your company, and then hire someone to design and implement them. Don't make the mistake of having the mindset of we'll fix it later, as it may be too late or you won't have the capital to allocate towards professional consultation. There are many ways a consultant can benefit your SMB or start-up no matter what phase your company is in, all you have to do is find the right one and trust that they have the background and skill-set to get the job done!

As always, I'd love to hear your comments and thoughts on this topic.

If you are in need of any business and/or marketing consultation, feel free to shoot me a brief introduction note at: modernbizstraetgy@gmail.com.

Cheers,

ModernManTellsAll

Business/Entrepreneur: Do NOT cut corners

noreply@blogger.com (Anonymous) — Mon, 20 Oct 2014 19:31:00 +0000

One of the most valuable lessons I've learned in my life is: Do not cut corners in anything you do that is of value to you, whether it is in business, relationships, or personal. I can remember going through college (undergrad) and just coasting along -- essentially "cutting corners" -- not giving it 100% and thinking once I graduate things will just fall into place. Yeah, well that is not how life works nor should it. The same goes for business. Let's say you want to start your own business or work for a company that is: A) just starting out or B) has been around for a while but is struggling to maintain a profit. What do they all have in common (typically), limited access to money, resources, and human capital, right? So what is the typical answer to this issue? Free work! Free software! Free whatever!

In the modern, digital world we have these expectations that things should be free -- everything from information to education, tech-platforms, and applications. In some instances this is true and many free pieces of information, technology and applications can be beneficial and useful when operating a business, and should be leveraged. Some products/services that come to mind are: Wix.com, Google Docs/Drive, Skype, Zenefits, Social Media Channels (Hootsuite, Facebook, LinkedIn, Twitter, Pinterest, etc.), Blogs, Dropbox -- there are many more either free or affordable platforms and software one can use to enhance their business operation and market penetration. Someone can even take FREE classes online at MIT, Stanford, and Yale if they were feeling ambitious -- doesn't mean you'll get a degree from said school or even finish the class. These are all good, positive and productive ways to cut costs and improve efficiency at the same time; however, there are areas where "cutting corners" in business can be a detriment, completely destroy what you sought out to build, and make all the hard work and time you've invested up to that point a waste. Many of these examples of cutting corners have been commonplace over the last 30 or 40 years, but are no longer viable for various reasons.

The first of which is free employment or un-paid internships. Don't get me wrong, I am all for the internship position and believe there can be value created for both the intern and the company as long as it is the right fit. The right fit would be an intern that is passionate about the industry, wants to learn, grow, and contribute; work hard with the intention to further their career, build a valuable skill-set that cannot be learned in a classroom; and understands the outcome prior to starting (e.g. college credits, 3 month trial period, possible employment when internship is fulfilled, pay or no pay, etc.). The company must be honest from the jump of their intentions, the duties expected to be performed, challenge critical thinking skills of the intern -- not just have them get coffee or take out the trash; communicate clearly its intentions, the duration, and the possible outcomes. Nothing is worse than a company that offers an internship to a high-performing individual that is expecting to work for 3 months and then either be brought on full/part time (paid) or after the 3 months move on with a great learning experience and professional references. I have a theory I like to promote to businesses that act unethically and manipulate free work to benefit themselves, and that is: If you cannot afford to pay someone what they are worth, or close to it, to perform their duties at a high-level (after discussed duration of internship is up) then you'll have to find someone else whom may or may not be as efficient and productive as the last, thus potentially wasting more time and money. Or you'll have to perform the duties yourself, chances are you won't have the time nor the technological knowledge. Or you can try to automate some of the tasks (costs more upfront). If none of the above are feasible, it may be time to reevaluate your business model and ask yourself, why your company is failing to move forward and increase revenues and market share. As the old saying goes, "It takes money to make money."

The second example of cutting corners in business that will most certainly end up costing you more in the long-run would be to not invest in your product/service offered. In today's global market place, consumers are extremely informed, transparency is on the up-swing, competition is fierce, and everyone has a voice (social media). What does this mean for businesses? Well, it means an inadequate products/services will not last nor will it be profitable, particularly when starting/launching a new product/service. We all know about the endless recalls from major car manufactures from Toyota to GM, which can be viewed as cutting corners in the manufacturing costs; however, while it is still damaging to their brands, they have the longevity, capital, and loyalty to overcome something as catastrophic as recalling millions of cars. This is not something a new start-up or SMB can sustain, as a matter of fact, the product/service should be your primary focus when building your business model, as it is the major factor that will separate you from your competitors and enable sustainable growth. We've all seen, owned, or worked at a company where their mentality is to invest as little as possible into their product in order to maximize the salaries at the top. Well, that may work in the short-term, however, in the long-term they are setting their businesses up to fail, and they most likely do within a few years, without an attempt to correct the quality of their product/service. Bottom line, invest in quality, you will not be disappointed.

Another tried and true example of cutting corners in business that will most certainly end in demise at some point is to under pay your employees and/or not offer perks to supplement lack of salary. As I have written in the past, the most valuable asset to a company, particularly a start-up or SMB is its team. In a highly competitive work environment, competition for top-level talent is fierce and the ability of a company to attract and retain such talent is mandatory in order to remain competitive and innovative across all industries. The age of technology has changed the way business gets done: increasing productivity and efficiency. Let's face it; a highly efficient and competent individual can essentially perform the duties of 5 or more people from 10 or 20 years ago. So how does a business owner retain and attract a high-level individual -- through either a high salary, perks, flexibility, equity, or a combination of. When business owners fail to address/offer any of the aforementioned, they will experience a high turnover rate, inefficiencies in the the day-to-day operations, lack of motivated employees, the inability to attract and retain top performers, and the list goes on and on; all of which end up costing the company heavily in the long-term. A truly sustainable and viable business should have no problem attracting and retaining the best talent possible, which is relevant to each company's specific needs. Just to give a quick example: Let's say you have a new tech start-up and you are looking for a top programmer for your new app, the question you should be asking yourself is what can I offer to lure him/her away from Apple or Google? I know I can't offer a salary anywhere close to Google or Apple, but maybe I can offer equity and flexibility? Money is not the be all end all when it comes to job satisfaction, at least not to the extreme as in the '80s -- thinking "Wall Street".

Cutting corners may sound like a good idea in the short-term; however, the long-term outcomes are typically not positive and prove to be quite costly. As a start-up entrepreneur or small to mid-sized business owner, it is important to understand your business, your competition, the macro/micro environment, and your long-term growth strategy. The goal of your business should not be to make money, but to create value in the market place, provide superb customer service, and build the best team possible -- making money will come as a result. It can even be wise to ask yourself, instead of where can I cut costs; what areas can I improve to make the business run more efficiently? The old school way is to find areas to cut, the new school way is how to maximize efficiency and productivity. Thanks technology!

As always, I'd love to hear your comments and thoughts on this topic.

If you are in need of any business and/or marketing consultation, feel free to shoot me a brief introduction note at: modernbizstraetgy@gmail.com.

Cheers,

ModernManTellsAll

Business/Marketing: Just because you use Google AdWords, Facebook, etc...

noreply@blogger.com (Anonymous) — Tue, 14 Oct 2014 01:28:00 +0000

I've lost count of the amount of times I've heard companies and clients say: "We've used Google AdWords and/or Facebook and Twitter advertising in the past and it doesn't work." Or they'll say: "Yes we are currently (or working with a third-party) utilizing Google AdWords, Facebook, Twitter, LinkedIn, etc., in our marketing/advertising campaigns, but if anything changes we'll be in contact." Well, that's great! You should be using one or more of these platforms, paid and/or organic, in some way or another, otherwise you are potentially missing out on a lucrative revenue stream, and at the very least, increasing brand awareness and loyalty. However, just because you are or have used AdWords, Facebook, LinkedIn, etc., does not mean you are maximizing their potential, in all reality chances are you are not. Let's face it, these companies are for-profit and prefer the uneducated and misguided to use their services as it pads their bottom lines. Think about it, if your ad does not appear on the first page Google or if your Facebook ads are not reaching your target market(s) you are essentially throwing your hard earned money at companies that are, or are close to being worth billions of dollars. They actually count on the majority of users to blindly throw money at advertisements -- even if a company is allocating as little as $10/day, and there are 100s of 1000s doing so, the profits can be astronomical. I'll spare you the math, however, if you multiply (10 x 1000 x 100 x the amount of days), you'll get the point. Great business model to emulate if you can, btw!

The same is true for companies that are using a 3rd party vendor for months and/or years without seeing even a minimal increase in their ROI. Granted after months/years, most companies will get the point and drop said vendor, but after how much capital has been lost? Coupled with the fact that many of these 3rd party vendors, definitely not all as there are a lot of great ones, are out to get your money as well -- hitting or getting close to their numbers as the contract end-date nears. And believe me, they are banking on the fact that the company is not versed in PPC campaigns and the various platforms. Some companies have invested so much in their marketing/advertising campaigns, trusting the 3rd party vendor as being experts, only to go out of business. Small to mid-sized businesses simply do not have the resources to sustain an unsuccessful marketing campaign -- in fact they rely on each calculated investment to provide incremental benefits at least in the short-term. So what do you do?

For starters, companies must realize that these platforms, although logical and necessary, are extremely complex, with many variables and KPIs. And often times work off one another, hence the integrated marketing campaign. Secondly, as stated above, there are literally millions of companies, some of which are your competition, using these marketing/advertising platforms daily! Obviously, their budgets will vary from dollars a day to 1,000s of dollars a day, but budget doesn't necessarily declare a winner. Kind of intimidating, don't you think? No wonder why so many companies will tell you AdWords, Facebook, LinkedIn, Twitter, etc., do not work, or they are a waste of money. Or worse, they have live campaigns running with high impressions and low click-throughs and conversions -- low to no ROI, etc.

When companies tell me these platforms do not work, my first reaction is, are/were you using it correctly? To use a sports analogy: If I gave someone a baseball bat and told them to step-up to the batters box and take a few swings at a major league pitcher, chances are they are going to tell me it doesn't work. Well, I'd argue there's a lot of professionals that hit off these pitchers every single day with that same bat -- some better than others. The same rules apply for your SEM campaign, just because everyone has access to the same tools doesn't mean everyone can hit it out of the park.

The moral of the story is: Just because you use Google AdWords, Facebook Advertising, LinkedIn, Twitter, Pinterest, YouTube, etc., doesn't mean you are using it properly and effectively. And it most certainly doesn't mean it doesn't work! As a matter of fact it does, and many company's are taking full advantage of it. And, no, you do not need to have an enormous marketing budget, all you need is a trained professional that understands the dance between analytics and messaging, and how the entire campaign works as one, not individually.

As always, I'd love to hear your comments and thoughts on this topic.

If you are in need of any business and/or marketing consultation, feel free to shoot me a brief introduction note at: modernbizstraetgy@gmail.com.

Cheers,

ModernManTellsAll

Business/Marketing/Lifestyle: Take risks...

noreply@blogger.com (Anonymous) — Wed, 08 Oct 2014 16:13:00 +0000

I know, I know. This is contrary to what your (and my) mom taught you and probably tells you to this day, but I'm going to tell you -- take RISKS! Take risks in business, in marketing, in life, and everywhere in-between. I'm not saying do something completely stupid, and let's say, jump off a sheer cliff with out a parachute or safety apparatus, or drive 100mph down the 101. I'm saying take (calculated) risks, get out of your comfort zone, grow, learn, meet people, and do it while you can. Do it before getting out of bed to fast or walking to the bathroom unassisted becomes a risk. I am being a bit humorous here, but it's true, life moves fast and if you ask your grandparents, or parents for that matter, what they regret the most, more often than not it's the things they didn't do. So, the moral of this (blog) story is to take risks, assess the situation, do a thorough analysis -- is it worth it? What are the benefits? What are the costs and potential consequences? What is the likelihood of coming out on top? Whatever you do, don't become complacent -- keep moving forward, innovate, disrupt, become a better person, more informed, more educated -- be the best at what you do, and who you are.

Take risks in Business:

It is a known fact that we are now operating in a global economy -- competition is fierce, buyer behavior has changed, large corporations no longer have a dominant grip on the market, technology is affordable and accessible to all, I can go on and on. So how does a company (maybe yours) standout and capture a profitable share of the market? By taking risks! No longer is the "old way" of doing business a viable option. Businesses must step out of their comfort zone and become innovators and disruptors. Innovation does not have to be some radical, technological advancement, nor does it have to come with a significant amount of capital investments. It can be as simple as offering a product/service in a better more efficient way than the competition; or it can be a minor incremental innovation to an existing product/service. It can also be a change in company culture or something as simple as hiring an individual that does not necessarily have the same background as everyone else -- diversification. Taking risks in business should always be calculated and well thought out through thorough market research and quantitative and qualitative data analysis. A few companies that either are or have taken significant risks are: Tesla, Virgin, Zappos, Apple (Steve Jobs era), and Netflix; all of which have or are changing the way we think and interact in our day-to-day lives. The two major things that they all have in common are great leaders that believe in what they are doing and have entrenched a culture that curates this behavior. After all, consumers really have no idea what they want.

"If I had asked people what they wanted, they would have said faster horses." ~ Henry Ford

Take risks in Marketing:

I have written about how to standout amongst the marketing clutter in the past, however, having just read the Fast Company article "This Company's Brilliantly Sassy Branding Strategy Makes Yours Look Sad And Boring" by Elizabeth Segran, I was inspired to write about the importance of taking risks, particularly in/with Marketing. The article goes into the branding strategy of a privately owned small business called, Manhattan Mini Storage (MMS), and how their messaging is pushing boundaries to the point where it can sometimes be seen as offensive to certain demographics. It is really a great read, and aspiring to a marketing guru such as myself.

The majority of brands (small and large) are afraid to take a chance and go with out of the box messaging to attract attention and capture market share. In reality, this strategy is ideal in today's super saturated and hyper digital world, where we (the consumer) are exposed to 1000s of messages/posts a day! So you offend some people that are not in your target demographic -- no big deal, as your target will appreciate your honesty and more often than not, will become even more loyal to your brand. After all, even the bad press will attract others in your target market that otherwise may not be aware of your product/service, like myself as I have never heard of MMS. This is especially true in today's polarized world. Take a stand for what you believe in and let people know what your brand is about, be honest, push some boundaries, shake things up, and most importantly, OWN IT.

Those of us in California know all about the Carl's Jr. commercials. They pretty much said, screw it, everyone else is pushing towards the health conscious movement, with conservative, family oriented content -- not Carl's Jr. They are going right for the 18 - 30 year old male demographic, with no shame -- head down and charging. Is it working? Can't say for sure, however, I would bet if it is working, it is solely due to the fact that they have committed to it and are owning it.

Take risks in Life:

The same principals for taking risks in business and marketing can be applied to life. Let's face it life is short! If you feel as if you need a change and are contemplating your decision, evaluate the positives and negatives, and if they weigh out -- do it! Yes, it can be overwhelming or scary at first, leaving your friends and family behind, etc. However, if you don't take that risk and go all in, chances are you'll regret it. If you don't believe me, ask your elders, I guarantee they will say go for it! There are countless articles out there, blogs, etc., that speak on this so I'm not going to elaborate further, but it is a fact. Risks in life can be anything as simple as going after the girl you want, telling someone how you really feel, getting a new pair of glasses, meeting new people, trying a new food to more risky: a career change (not an easy decision, believe me), furthering your education (best thing I've done), moving out of your hometown (not that bad), skydiving (on the agenda), starting your own business (stay tuned), having kids (maybe), etc. Bottom line is, when you make the decision to take the risk, go for it, jump in with both feet and give it all you got -- things have a way of working out as long as you commit to it. I'm not sure who says this (I could look it up but...), "You get out of life what you put into it."

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModerManTellsAll

Marketing: Google AdWords and increasing your ROI

noreply@blogger.com (Anonymous) — Wed, 01 Oct 2014 19:10:00 +0000

Most companies, marketers, and consumers for that matter, are aware of Google (67.6% market share) and use it daily to perform searches, look up content, find informative articles and blogs, and to buy and sell products/services. For this blog post I will be focusing specifically on the seller side, and how companies and marketers are utilizing Google AdWords ineffectively and are wasting/losing a significant amount of capital.

The scramble is on, and has been for the last 10 years or so, for companies to create and build an online presence. In today's world it is absolutely essential to have at least a company/business website where potential consumers can find you and get an idea of what your brand is all about and what you are offering as far as products/services. With millions of websites now online, how does one standout and get noticed? One way is to type your exact web address into the url search, which only works if consumers are aware of your company and have, more than likely, purchased from your business in the past. The other way, and most common, is through the Google search, where consumers type in keywords, usually two to four words, into the search bar. Once the keywords have been typed the Google search page is populated with data - listing ads from a variety of companies that fit the search criteria. If your company is not listed on the 1st page, where 75% of people do not go past, you are essentially throwing your money into a black-hole. If this is the case I would recommend pausing your campaigns and read the following 3 steps prior to reactivating them.

1) Conduct a thorough keyword analysis:

In my experience this is the most common mistake companies and marketing managers are making and the easiest to fix. That said, it is probably the most important as well. When conducting your initial keyword analysis it is important to know your industry and target consumers. Once you have done the preliminary research you can access Google AdWords keyword planner function. From here you can type in industry related keywords and AdWords will perform a search and populate 100s sometimes 1000s of potential keywords with key metrics such as competition, avg. monthly searches, suggested bid, impressions, etc. Granted many are far too broad to use in a campaign (not recommended), however, there will be many options to choose from and further target your search. When keywords are too broad your ad(s) will show in searches, which may not be your target market. Therefore causing people to click on your ad with no intent to buy, meanwhile you will be charged on your CPC (cost per click) campaign -- lowering your ROI. There are many advanced features in the keyword planner as well that can increase keyword efficiency: Search competitor websites, landing pages, trends, etc. However, the basics are the most important to get right -- then worry about advanced features. Once you have selected your top 20 or so keywords you'll want to utilize AdWords match function: Broad, Phrase, and Exact are the basics. If you are very confident a selection of keywords match what the majority of your consumers will be searching for, then you'll want to use either phrase or exact match, thus targeting your prototypical consumer, whom are more likely to convert on your site.

Helpful hint: You can use a combination of the three in your Ad Groups

2) Organize Ad Groups:

Organizing your Ad Groups is highly recommended. I have seen this far too often where a client has created multiple ad groups with a variety of ads that are not cohesive, thus lowering their quality score and ad rank and increasing their CPC. All of which will negatively affect your ROI. When organizing your ad groups you want to create groups for each individual product/service, and then create ads accordingly -- utilizing the proper keywords from your analysis. For example, if your company is a bakery and you sell fresh bread/rolls, cookies, brownies, and cakes, you would want to create ad groups for each individual item and then allocate the respective keywords accordingly. Organization is key, so if you can get it right from the start you'll be far better off than going back and analyzing all the ad groups, ads, keywords, etc., as it is a lot of work! Furthermore, it will cost you more money and time to backtrack.

3) Coordinate landing page copy:

Landing page copy and functionality is EXTREMELY important. For one, this is where your directing your ad traffic and if it does not portray what your ad is trying to sell, your conversion rates will be low, as well as your ROI. We want to increase ROI not bring it down. The most important thing with landing pages is to keep the messaging clear and concise, utilize SEO keywords when possible, have a strong Call to Action, educate the consumer on the product/service, and track and procure as much of the user-data as possible. There are a lot of cool and affordable 3rd party sites that make creating professional landing pages easy. My favorite, and perhaps the most popular, is Unbounce.com.

Keep in mind the above are some basic steps and tips on how to manage and increase your ROI when using Google AdWords. There are many more advanced options and techniques to consider; however, although these are basic steps/tips they are still very common mistakes many companies and marketers are making on a day-to-day basis. One last thing I would say is to track and analyze as much as you can as often as you can, and make adjustments accordingly.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Lifestyle: Manage your time...

noreply@blogger.com (Anonymous) — Sat, 20 Sep 2014 20:07:00 +0000

This is an open letter to all the horrible time managers out there...please take the initiative and manage your time, because it affects all of us!

All right, this is going to brief but hopefully informative and reflective. How many of you out there have been victims of a horrible time manager, or are one? (show of hands) I see about half of the crowd has raised their hands (hahaha).

I get it, we all have a lot going on in today's hyper fast, ultra digital world. We have our physical life and well-being to attend to and our virtual life, which is slowly creeping up on the physical, but not there yet. So we may be late to a meeting, date, friends birthday, wedding, etc., but why?

If the reason is: There was a horrible accident. I got lost. I was on the phone with my mom (who lives in another state/country). I ran out of gas, not a good one but acceptable (unless it happens more than once), etc. You get the picture. There are some legitimate excuses, however, for the most part being late is a product of poor time management.

I know it may sound "parental" in a way, at least my mom says this all the time; "You should leave early enough to prepare for traffic and/or accidents," especially when leaving for an interview, important work meeting, pretty much anything business related as social situations are allowed some leeway by default.

What I have come to realize as my life has gotten busier and busier, and as I've grown into a responsible man (thanks mom), is the fact that my time is valuable as is everyone's. If the meeting is at noon be there at noon (at least) or even better get there 10-15 minutes early. If you say let's meet at 3pm and you can't get there at 3pm, let everyone else know, preferably at least 30 minutes or an hour before. After all, everyone is busy, whether they are busy being productive that is another story.

"Better three hours too soon, than one minute too late." ~ William Shakespeare

Technology is supposed to make our lives that much easier, not harder. There are tons of apps out there that can help you manage your time and tasks, set reminders, set alarms, workout timers, monitor traffic conditions, estimated time of travel, etc. All there to make you more efficient and productive. Let's not forget the countless ways to communicate: text, social media, email, a PHONE call, so let's try and use it people.

Side note: The new iPhone comes out today and iOS 8, both of which have applications to help with time management.

Salutations,

Nicholas

Entrepreneur: Launching a Business

noreply@blogger.com (Anonymous) — Wed, 10 Sep 2014 16:16:00 +0000

Having been a part of numerous startups over my career in various industries, and having known and knowing close friends, family members, and business associates that have made the leap and taken the risk of starting their own businesses, I wanted to share a few things that I feel are very important to get right from the jump.

1) Write a business plan

This is a BIG one, yet is rarely executed properly, if it's even done at all. Many entrepreneurs and small business owners feel they have a great idea for a new product/service, feel they can take an existing product/service and do it better than what is currently on the market, or have an incremental innovation to an existing product/service that will enhance the consumer experience and fulfill a need. In fact, these reasons are why most businesses and startups are launched, however, 3 out of 4 will fail! That is an extraordinary high percentage. Yes, some will fail due to lack of capital funding and others will fail by burning through capital far too quickly, and some will fail from lack of leadership, direction, and vision. Regardless of the reason, a lack of a well thought out business plan is more often than not at the root of the problem.

Writing a business plan forces the business owner to carefully analyze why they are starting a business, who their competitors are, what is the market for the product or service, economic climate, etc., prior to investing all that time and money, which is needed to get a business off the ground. Many people I have met with, and worked for actually, will for-go writing a business plan all together, claiming they have it all in their heads; they are purely reacting to scenarios day-to-day. Writing a business plan is a proactive approach as it will help streamline your thoughts, make adjustments prior to launch, enable a clear vision for the business, enable you to seek and procure investors, heck, it may even force you to re-evaluate your decision to start a company all together.

I would suggest consulting with someone who is well-versed in writing a business plan(s) and/or launching startups, even if it may be seen as a costly expense as it will no doubt save you money in the long run and moving forward. If you do not know anyone to consult with, or if you find it to be too costly there are many websites that offer business plan templates for a limited one-time fee, some may even be found online for free. However, I would be cautious of anything that is free as many times in life you get what you pay for.

2) Determine your target market(s) and position your brand accordingly

This one is all too common as well. You have a great product/service that is ready for market, perfect let's start making some money! Right?? Well, of course one wants to make money, but who exactly are you selling to? A small business or startup (typically) does not have the resources to just get a company off the ground and start selling to anyone and everyone that is ready (or not) to buy. Furthermore, marketing can be an expensive business unit, particularly without a clear target market(s), as much will be wasted (time and money) while you're testing to see who is going to be a viable customer for your business. Determining your target market(s) should be done prior to launch, again a proactive approach, not a reactive one.

Once your target market(s) have been identified, it is extremely important to position your brand accordingly. What do I mean by this? Well, let's say you have targeted the high-end, high-quality coffee consumer market - essentially competing with Starbucks. This would not be an easy task, even with a well-thought out business plan and preparation; however, it could be done with a focused strategy. Therefore, when you position your brand on the high-end, high-quality market, all of your branding and marketing should be targeted as such. You want to go full-bore and start capturing market share in that space immediately. Far too often I have seen companies without a defined target market and brand positioning waste valuable resources at a fast-clip by trying to serve any and all markets, even to a market that would never pay $2 for a cup of "drip" coffee or $5+ on an "Orange Mocha Frappuccino" (couldn't resist the Zoolander reference).

3) Start tracking financial (costs, expenses, revenues) and sales data immediately

Many new (and sometimes experienced) entrepreneurs and small business owners fail to do this as they just jump right in and start producing and selling their product/service. I am all for initiative and motivation as that is what is going to enable your company to survive and thrive, however, prior to launching I'd recommend putting the data tracking applications in place. This can be accomplished through the use of Excel, Quickbooks, Quicken, or any other new app/software that is out there in the market place (there are a lot of them). Again, this may seem like an obvious implementation, but you'd be surprised how many business fail to have this in place, or have started it but stopped for whatever reason, too busy, lack of spreadsheet knowledge, I'll do it later, etc.

The problem with failing to track financial and sales data is that as it accumulates and business operations pick up (hopefully), the harder it is to go back and input the data. Furthermore, having all your data tracked will enable you to compare data from previous days/weeks/months, forecast sales, procure more capital in the future, find partners and investors, identify issues, etc. In today's technological world financial tracking and data storage is highly accessible and in many cases fairly user-friendly. Once again, I'd recommend consulting with a professional on this matter, at least initially to setup the templates.

Obviously there are many other factors that go into launching a business, many of which have been posted in other posts on LinkedIn. However, I feel these 3 are major factors to consider prior to launching a business and in the long run save you a lot of time, money, and headaches moving forward.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Marketing: 3 most common digital marketing mistakes

noreply@blogger.com (Anonymous) — Fri, 05 Sep 2014 17:48:00 +0000

The 3 most common digital marketing mistakes...

Ah yes, it's that time again. With digital marketing becoming more of a necessity than a "fad," I thought I'd share my opinion/observations on the three most common mistakes I see across the digital landscape and with clients and associates.

1) Duplicate and redundant content across all channels

I have this listed as number one for two reasons: For one, it is probably the most common. And two, it drives me nuts to see this. Think about it, with 3rd party apps like Hootsuite, SpreadSocial, and SocialOomph scheduling and coordinating posts is super easy, and sometimes too easy as a social media manager or operations manager can schedule multiple tweets for the week and assign the same posts across all channels (not recommended). This makes sense right?? Spread our message to as many people as we can across all channels efficiently...that's the name of the game. Well, no, not really. All of the social media channels have a different communication and interaction method, and many times, a completely different demographic. Therefore, duplicating the same message across all social channels could in fact be hindering your brand instead of growing it. Many social media users are extremely educated and versed in the proper communication and interaction methods/techniques and can quickly tell what your company is doing, and many times turn them off all together. It actually portrays laziness as well, almost as if you don't want to take the time and don't really care about your product/service. So take the time to properly communicate, promote, and engage across all social channels. If you're limited on time and resources then narrow your channels down to one or two.

2) Poor grammar

Poor grammar, the ultimate brand killer. If there's one thing we've learned over the last few years, it's the fact that one or two mistakes on social media can absolutely damage your brand, and it can be very hard to bring back the loyalty. I'm not going to tell you what you should or should not post as far as graphic content (American Airlines), politics, religion, etc. as that is obvious. What I do want to address is the use of poor grammar. I get that you only have a certain amount of characters to get your message across; however that should not mean you have to sacrifice proper grammar. Yes, it forces you to be far more creative with your writing, which is a good thing; All the more reason to find a qualified digital marketing expert to communicate this message properly. I understand that mistakes are made from time to time, as many of us get so busy and our attention is not fully focused on our social media posts; heck, I'm sure you can find a few grammar mistakes on this blog (I am not perfect). However, when these mistakes are constantly happening you will discredit your brand and portray a lack of professionalism and commitment to stand behind your product/service.

3) Buying followers and likes

OK, I get it you want more followers. This actually used to be a lot more common two or so years ago, however, I still see this happening with some smaller companies that I meet with, they have 1000s of followers on Facebook and/or Twitter, and my first reaction is, WOW, that's great! Then I'll ask questions such as: How are your sales from these channels? How much is your website traffic increasing monthly? What is your ROI? Once I get the answer, which is most common, none or very little. My next step is to analyze the social media channels and see how engaged their followers are; are there a lot of likes and shares, comments, etc. Typically the answer is no. If you have a few thousand followers and you're posting content regularly, you should, by default have some interactions happening. That is if your followers are a part of your target demographic and actually invested in your message: your brand and your product/service. If they are not, then those thousands of followers mind as well be one. That said, not all is lost as the reality is, if you have that many followers it is that much easier to find and engage, new, real, potential customers and attract them to your social media pages organically.

So there you have it, the 3 most common digital marketing mistakes I have come across over the last few years. The best advice I can give is to pay attention to what you are posting, what you're followers are saying, and where your content is being distributed.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Career: Know where you're going

noreply@blogger.com (Anonymous) — Tue, 02 Sep 2014 17:13:00 +0000

Know where you're going...

To know where you are going is one of the best pieces of advice any one can receive. I can't tell you how many times I've heard this growing up, from my parents, teachers, mentors etc. However, I can tell you it is about just as many times as I've ignored the advice, not necessarily on purpose but more from being naive and inexperienced in life. I was always one of those people that knew what I did not want to do or where I did not want to go, but that only gets you so far. At some point you will come to a crossroads in life and you'll have to decide where you are going and where you want to be. And having a general idea can be extremely helpful.

Although knowing where we are going and where we want to be is a great piece of advice, most go through life without an understanding of what they want for themselves, and what their purpose is. Many of us let life dictate our future and our plans even if it is truly not where we want to be and go. Napoleon Hill would refer to this as "drifting". According to Mr. Hill, nearly 98% of the human population are considered drifters and only 2% are considered non-drifters; therefore the chances are, you, me, and most people you know are drifting. There are countless reasons for why this happens and Mr. Hill goes in to the details in his books, Outwitting the Devil and Think and Grow Rich, and he explains it much better than I, so if you're interested I'd recommend giving them both a read. I will, however, tell you that the act of drifting and non-drifting, for that matter, are in full control of the individual.

I actually have been drifting for the majority of my life. Yea, I always knew what I did not want to do and where I did not want to go, but I never actually knew where I was going and what I wanted to do - until now. So how did I figure it out? We'll, it really wasn't rocket science, but it did take a lot of hard work, ups-and-downs, successes and failures, and mental toughness. I'll outline 3 main steps that changed my path, and pointed me in a direction where I am excited to be adventuring towards.

1. Determination

Determination is what it takes to get through much of everything in life, but it is even more important when breaking out of the drifting mode and into the non-drifter demographic, which is not easy. As everyone knows, life will always throw you "curve-balls" and try to beat you down, but it is how you choose to react to these life challenges that dictate the outcome. You can't let these challenges have a negative affect on you, after all, you have a goal and an idea of what you want out of life and where you are going, so keep at it. Take all those challenges and negative experiences and learn from them, but don't let them set you back - stay on your path and keep moving forward. Believe me, I have gone through many ups-and-downs from moving to LA without knowing a soul to my dad passing away to leaving a job, laid off, etc. But, in the end all has led me to where I am now, and mentally I've never been in a better place. Determination is the one thing that has kept me going through all of this, and I believe it is the most important if one wants to break the habit of drifting through life. Without determination one would try things a couple of times, maybe even just once and then give up - staying stuck in the same place mentally and physically. I know this for a fact as I've had this mentality in the past. I had no clue as to where I wanted to go and how I was going to get there, I just went with the flow. After all, determination is what made Thomas Edison fail over 10,000 times before he came about the phenomena of electricity, which many of us take for granted as if it has always been a part of this world and human life.

2. Never stop learning

It doesn't matter what it is, never stop learning. You could be the president and CEO of the biggest and best company in the world - think Amazon, Apple, Google, etc. And the minute you think you know it all and stop learning, you will lose that competitive advantage, your job, the company will lose market share, etc. In today's world, the information age, knowledge can be acquired quite easily and educating yourself should be at the top of everyone's list. While you journey to where you want to go, gather as much information as possible along the way, on as many subjects, as you never know what you'll need on your way and when you get there. Furthermore, as you learn new subjects and expand your knowledge of topics you already knew a bit about, your path and destination will become clearer with each step. Maybe you had a general idea of what you want to do, the industry you want to work in, where you want to live, but as you continue to learn - the knowledge you gain may help you hone in on an that exact position, industry, company, city, etc. Soon your vision will become a reality.

3. Write things down (your plan, ideas, tasks, etc.)

I know it sounds cliché' but it's true, write things down. We all have ideas and plans in our heads, whether it be personally or professionally, your business plan, marketing ideas, etc., it doesn't matter. If you ask me, if you don't have it written down you have nothing. Now, I am not saying that having ideas in your head is a lost cause, quite the contrary, those ideas are the seeds that will lead one out of drifting and into the 2% of non-drifters. The problem is a lot of us have those ideas for a great business plan, new invention, ways to find that dream job, where we are going - you get the idea; however, the majority of us do not act or succeed in transitioning these ideas in our heads into a reality. As a matter of fact, for the majority of us life ends up dictating our situation and before we know it time flashes bye and it's either "too late" or the passion for that idea has left or the idea never was expanded on. I know for me personally, writing things down, making lists, setting goals, and dates to complete "X" by this date has enabled me to have a clear vision of my plan to where I want to be/go. To be honest, I tell clients that I meet with, many of whom are small business owners and entrepreneurs, where the most common thing among them is they all have plans and ideas, however, it is almost always in their heads, to write things down. Write that growth strategy down. Write the marketing plan down, etc. How do you know how you are going to get there without having it written down? How do you plan on tracking your accomplishments? What if you forget? How can I help you if we don't have it written down in a business plan, marketing plan, growth strategy, etc.? The same can be said for ones life and where they are going...how do you know exactly where you are going and how you are going to get there, if it's not written down?

I really do not know if these steps will help everyone, but what I do know is this is what has enabled me to move forward and finally find a path to where I want to go, not just where I didn't want to go. Now everything I do moving forward will be one-step closer in the direction of where I am heading instead of to the right or left, or worse, backwards. And that is a pretty good feeling.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Technology: How do you use it?

noreply@blogger.com (Anonymous) — Thu, 28 Aug 2014 02:30:00 +0000

Technology: How do you use it?

This is a subject I have grown to become extremely passionate about over the last 3 to 5 years, particularly since the acceleration of online higher education, social media, smartphones/TVs, and the efficiency of applications such as Skype, Blackboard, IM, video/music streaming, etc. You truly can run a global operation from the comfort of you own home, if you have mastered technology and all of its functions and nuances. Granted many of us are not there (yet), and maybe running an entire globalized operation from your living room is a bit of a stretch - but the point is, one could if they had the means and a trusted team of, tech-savvy, highly intelligent, efficient, and productive individuals. Again, a lot easier said than done. So where do you stand on technology and how it is used in our everyday lives? For me there are two general and basic categories: Distraction and Entertainment and to Perform Tasks Efficiently, and, quite simply, Make Things Easier. Let's break it down.

Distractions and Entertainment:

Yes, technology is great, that goes without saying. Think about it, we all have the power to do anything we want at anytime in the palm of our hands; some of us actually have it in the palm of our hands 24/7! This is true, I personally know people like this. It has even come to the point where our devices are the most important material thing to us, right underneath food, clothes and shelter, maybe you know someone that places it above food - it's possible. How many of you (yes, I'm guilty of this as well) have been in your car, hopefully at a stop light, and decided it was a good idea to send a text, check your email, Twitter or Facebook feed? I'd be willing to guess it is above 80-90%. I can't tell you how often I see people doing this while actually trying to drive. All this serves as a huge distraction. How about when you are out with friends, at work, on a date, or just hanging at home with your kids and/or pets and you are glued to your smartphone, tablet, or laptop, and your kid, dog, or significant other wants attention? This happens to all of us whether we are doing it consciously or subconsciously, really we are not trying to be unresponsive or unaware of our surroundings - it's almost as if some of can't help but be drawn to technology. We are constantly being distracted by something (I just checked Facebook about 3 times while writing this post), and most of the time it is something of minimal or no importance. That email could have waited, that tweet could been posted later, you've already seen the YouTube video, etc. I've even seen people walk into stop signs, tree branches, or me while walking their dogs, all because they had their eyes glued to their phones.

My question to everyone out there is, do we really need to constantly be distracted by technology or is it there to serve a greater purpose? I'd argue the latter, undoubtedly. That is not to say, there is a time and a place for entertainment and other forms of uninformative articles, or social media posts, because there most certainly is, it just does't have to be 24/7. Think about it, humans have managed hundreds of thousands of years without advanced technology, yet today most of us can't put it down for a few minutes let alone an hour or two.

Perform Tasks Efficiently and Make (everyday) Things Easier:

On to what I believe the best use of technology is: to perform tasks efficiently and make things easier. I for one love technology and consider myself a tech-savvy individual. I really can't imagine life without it. Now, with the use of technology everyone has access to a vast ocean of information all at the click of a button, can manage all their financial accounts in one app, connect with associates, friends, and family across the globe in an instant (by video), streamline manufacturing processes, work autonomously; heck it can even parallel park your car for you, not to mention the fact that "getting lost" is now taboo. There are countless other reasons for the use of technology and the benefits received, which I will not go into as you know what they are. In business, technology has endless possibilities. A small one man operation now has the potential to reach as many consumers/customers as an established multi-national. That to me is mind-blowing.

Once one has harnessed the true purpose of technology, to perform tasks efficiently and make (everyday) things easier, your life could become more simplified. That said, if one let's technology take control or someone doesn't fully grasp the powers of having a device or devices that, 30 years ago, would have costed millions of dollars and took up a room the size of your apartment, then life suddenly becomes more hectic and out of control. How many times have you heard people say, "I'm so busy"? Well, I'd put some money on it (although I don't have much), if they took advantage of the technology that we are so fortunate to have access to, harness and understand its powers, your life would begin to simplify. Maybe, I am reaching a bit, but I feel it has worked for me. How do YOU use technology?

If you agree or disagree, or are attached to your devices 24/7, I'd love to hear your comments.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Business: Do you follow up?

noreply@blogger.com (Anonymous) — Mon, 25 Aug 2014 00:00:00 +0000

The all important FOLLOW UP.

Throughout my career I have seen many missed opportunities and lost relationships by not initiating a follow up email or call/text. On the other hand, I have landed sales, clients, and job opportunities by taking the initiative and following up. If you think about it, it is such an easy thing to do yet many of us do not take the time to follow up with a potential client, sale, or job opportunity. We usually will make excuses, like we're too busy or it is the other person's responsibility to take action, after all we did our job, right? Well, I'm here to tell you to take the initiative and be the one to follow up, you won't be disappointed, as many times that client, associate, hiring manager, etc., is thinking the same thing, and is awaiting your follow up note or phone call.

To me following up is one of the most important business and life decisions one can make. If you're a salesmen or entrepreneur or anyone for that matter, you must be proactive in all that you do, and be ready at all times to take advantage of opportunities as they come, because you never know when the next one will arise. This is especially important in today's fast-paced modern world, where we are all connected every hour of the day, following up can make or break that sale or business opportunity.

I have been on both ends of this, as I have been a hiring manager, and have hired people based on the fact that the candidate took the initiative and sent a brief, thoughtful follow up email, stating there interest and thanking me for taking the time out of my busy day to meet with them. I was more than likely contemplating hiring them anyway, but had gotten busy and put it off. Further, I have been on the other side as a salesmen, entrepreneur, and independent business and marketing consultant, where I've met with potential clients where everything seemed to have gone well; they liked me and the service/product I was offering, but then a week goes by, and then another, and heard nothing back. I would then fire a brief follow up note, text, or phone call only to find out the potential sale or client had gotten busy and forgot to schedule another meeting or purchase the product/service, but was still very interested. That said, I have also followed up a week or two later only to find out they purchased the product/service from another company or went with someone else's services. Could I have landed the sale/job? Maybe, if I was proactive and followed up sooner and shown my interest in working with them. Who knows, that other company or person might have done so in a timely manner and happened to be in the right place at the right time - after all, out of sight out of mind. Granted, maybe the other company/person might have had a product/service that more matched the clients needs, and I wouldn't have made the sale anyway, these things do happen.

All of the above scenarios could possibly be true, but the moral of the story is, it doesn't hurt to follow up in a timely and thoughtful manner, regardless of the outcome. After all, it is just good practice to take the initiative and be proactive in all that you do, as you never know what the other person/client is up to or thinking. I coach all of my clients, personnel, business associates, family and friends to make sure they follow up. You always want to leave a positive impression with all people that you meet, whether it is personally and professionally. In today's world, everybody is busy, and even though a follow up takes only minutes, most people won't do it or forget to, and by you taking the initiative you will standout amongst the others, and who knows, land that client/job, or at the very least expand your network and something may come up down the road. Do yourself and business a favor, and always follow up!

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Marketing Strategy: How to standout amongst the clutter

noreply@blogger.com (Anonymous) — Wed, 20 Aug 2014 02:00:00 +0000

How to standout amongst the clutter...a question every Marketing Manager and company is, or should be asking themselves.

To start let's first explain what I mean by "clutter". Clutter is the saturation of content, posts, pictures, video, TV commercials, billboard ads, etc., crowding our social media pages, train stations, streets and sidewalks, etc. Just think about all of the posts and ads on your personal Facebook page, Twitter account, LinkedIn page, etc., which may only have a couple hundred people or a couple of thousand (if you're a social butterfly and/or great networker), either way those numbers are unsubstantial when you look at the grand scheme of things. But even still, there is no way to possibly read and click on all the posts. For one, everyone is extremely busy managing their own lives, and for two some of the posts/content is not worth looking into any further, let alone engaging in meaningful conversation.

So what can you do as a Marketing Manager or a company that is dealing with hundreds of thousands or even millions of potential clients/consumers.

Choose your social media platforms wisely. With so many options out there to engage in and communicate your brand, a company/marketing manager must define which platforms will provide the highest ROI and maximize available resources, no matter how limited. A great way to do this would be to access and analyze the direct competitors (particularly the leaders) - see which platforms they are using, chances are the same will work for you, or some combination of. Secondly, the company/marketing manager should determine which platforms they and their team are most comfortable and familiar with using. The last thing you want to do is work with a platform where no one has experience, or where your target market has limited use. If you do some research on major brands and industries you will see, for the most part, they will use the exact same platforms, give or take one or two. For example, the car industry will use Twitter, Facebook, and YouTube.

Know your audience. Everyone is enamored with numbers. I have 10,000 followers or 100,000 Facebook likes. That's great, who are these people? How did you get them? Are they turning into customers? Are they sharing and commenting on your posts/content? The point is, you can have all the followers in the world, but if they are not in line with your brand, your message, and/or product/service, you mind as well have zero.

Content is King. Yea, we've all heard this countless times, of course uploading and posting content is a must for your brand to gain awareness, penetrate markets, and in the end bring in revenues. But the question is, what kind of content is going to engage your audience to the point where they want to click on your posts, share, like, engage, and ultimately buy into what your brand is about. This is where it is important to post visually stimulating content (e.g. pictures, videos, etc.), these can be original content (if you can this would be ideal), or even stock photos, free google pictures, a trending YouTube Video, etc., as long as you are clear of copyright infringement any and all of the above will work just fine. Just make sure the content is in-line with the brand, and portrays what the culture is like, what the company appreciates and values, educational, has something to do with the industry and product line, etc.

Engage your audience as much as possible. Some of you have heard of the 80/20 rule in marketing, where 20% of your marketing messages produce 80% of your campaign results, which may very well be true. But I'm here to tell you this rule also applies to the amount of time a Marketing Manager, and their team, should be allocated towards engagement. The more we engage the audience the higher the probability that the campaign will build loyal followers/customers, and ultimately become successful. Now these percentages are by no means set in stone, as a Marketing Manager should constantly be tracking and analyzing results, and should adjust accordingly - maybe try a 70/30 rule, whatever works for you. The point is, social media has made marketing personal, it's almost as if we have gone back in time (so to speak), to a time pre-television, pre-intertnet era, where human interaction was essential for a brand to sell a product/service. Social media has a very human element to it, granted there are some robots trolling Twitter and Facebook; however, for the most part, there is a real human being on the other end. Always try and remember that.

Commit. Ah, the dreaded word for some of us, but yes, you MUST commit to a well-defined integrated marketing strategy. Gaining brand awareness and market penetration is something that takes a lot of time, particularly if you are a new startup or small and growing business. As stated above, the internet and social media is cluttered with content - everywhere we look we are inundated with adverts, business associates, family and friends, heck everyone on LinkedIn has the ability to blog now with a direct, built-in audience. In the web 2.0 world we now live in, everything grows exponentially - meaning once you get a 100 followers, the next 100 will not be as hard, and once you hit a 1000, the next 1000 happens that much quicker, as long as you commit to the marketing plan and strategy. That said the opposite is true as well. If you only commit to the integrated marketing plan/strategy for a short amount of time it is going to be that much harder to build that audience back up - attention spans are extremely short and once you lose or start to lose an audience action must be taken immediately or you risk being forgotten (e.g. JC Penny).

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Relationships: Job hunting is a lot like dating

noreply@blogger.com (Anonymous) — Sat, 16 Aug 2014 16:30:00 +0000

I'm sure many people have experienced the loss of a job or a breakup in a relationship, and if you really think about it the two are very similar. I will be explaining this mainly from the male perspective, as that is all I know, being a male my entire life. That is not say there are some similarities from the female perspective, however, I can't speak as an expert on such a subject (maybe some female commenters can elaborate).

OK, now that we have that out of the way let's get started. Job hunting is a lot like dating in the sense that there are two sides to the story, coupled with the fact that there is rejection and mutual acceptance. A job search can be agonizing for many, as can be dating, particularly in large cities where competition is fierce and viable options/positions are few and far between. Furthermore, many of the job descriptions require qualifications that no real human can possibly have (10 years experience, MBA, know how to code a website, 7 feet tall, $20/hr, etc.), just as TV and movies cloud the judgement of the qualities/qualifications real men and women have.

In the dating world women are (typically) the final decision makers as are the hiring managers in the job world. Have you ever gone on an interview and thought to yourself, I just knocked that out of the park; the conversation was balanced and flowing, etc. You felt you were on the same page as the interviewer, you both were even having a few laughs sharing like experiences professionally and personally. All you had to do was wait for that phone call/email letting you know you got the job - only to have it never happen. You follow up, "just to check in", and no response...?

This same phenomena happens in the dating world, particularly with men. You went on a date or two with this smoking hot girl, the conversation was flowing, the two of you were laughing and having a great time, you have this in the bag no doubt. As a (young) man, we always jump ahead and think we landed the perfect girl friend and the rest will be history. Well, as we know this is not always the case. We actually have no idea what the other person (the female) is thinking, or what other options/candidates the female has waiting in the wings. It is a fact that a good looking woman gets hit on an average of 8 to 10 times a day, that's 70 times a week and over 3,000 attempts a year! That is a lot of competition, therefore one must stand-out.

The same can be said for the high-value, highly sought after jobs. As a hiring manager, I know from experience that just by posting a job ad on Craigslist will bring in over 100 resumes in a week. So the question is, how do you stand-out from the competition?

This is a tricky question, because as I stated earlier the decision power is in the hands of the female/hiring manager. I guess the answer to both (as in life) would be to put your best foot forward at all times, keep growing professionally and personally, don't think ahead - stay present, learn from your mistakes, and don't stop searching until you have a definite answer.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Ciao,

ModernManTellsAll

Business Strategy: Innovate

noreply@blogger.com (Anonymous) — Wed, 13 Aug 2014 02:30:00 +0000

Innovation. What do you think of when you hear the word innovation or innovate? By definition innovation means a new device, idea, or method. However, I, like many others, would say: Innovation, in business terms, is something that is tied to creating a new product, which is different from anything else on the market. The iPhone, for example, would be an innovative product. It changed the way we (humans) communicate with one another and interact with technology. Everyone now has instant access to any information they desire, hundreds of thousands of applications that can perform any task and/or can "socialize" with a person(s) of their choice whenever and wherever they like. This would be considered a radical innovation.

Innovation is most commonly tied to tech-based companies such as Apple, Google, Microsoft, Twitter, Samsung, Netflix, Amazon, etc. Top 40 most innovative companies in 2014. Companies that are driving how the consumer engages in their day-to-day lives. Think of all the innovative products these companies have brought to the market in just the last 5 or 10 years. Everything from iPhone, iPads, Google Glass, Samsung Smart Watch, Smart TV's, Nest, etc., and who knows what the next product will be. The truth is technology, the way we know it today, is just in its infancy and will only become more advanced and integrated into our lives as time goes bye.

The above are all undoubtedly innovative companies and products, but does innovation only apply to these major companies or just in technology? I'd argue most definitely not. There are many other ways to innovate across all business units, and it does not apply only to a product or service. Innovation can occur or be applied to anything from customer service, marketing techniques, business models, company culture, or overall strategy.

Customer Service is something all companies offering a service or a product engage in, no matter what the industry. A company dealing in B2B or B2C must offer some form of customer service otherwise they would be unable to retain customers or garner new ones. Take for example Time Warner's new customer service model - the one-hour service windows. We all know the hassle of the four-hour service window and how inconvenient they can be. In the past if you had a service inquiry you would get a time between 9am and 12pm or 1pm and 4 pm, and many times the technician would show up late or worse not at all. This has caused a dramatic decline in their customer retention. Well, to rectify this Time Warner has launched the one-hour campaign. While this is only an incremental innovation it still is considered innovative. Another example would be the banking industry. I recently went out to inquire and compare small business bank accounts and found that the big three (Chase, Bank of America, and Wells Fargo) offer vastly different options, most of which are differentiated by monetary and customer service (incremental innovations).

Marketing techniques can also be innovative, and most of the successful brands have utilized this to capture market share and disrupt industries. Think about all the advertisements we see on a day-to-basis. Some studies have that number at anywhere from 250 to 3000 per day, depending on age group and where one lives. This is astounding. It makes one think how can a human brain digest and retain this mass inundation of advertisements? Well, I'd argue it can't. So how can a brand create a campaign that actually sticks in our minds and eventually persuades us to make a purchase - through innovative marketing techniques! A brand that comes to mind (that is not considered a major global brand) is the Dollar Shave Club with their innovative and memorable ad campaign and video. Although they did not recreate the wheel so to speak, they did use an innovative approach with a serious yet tounge-and-cheek style video, which intern caused the video to go viral and gain brand recognition.

Business Models, or how the firm plans on making money, is yet another way a company can innovate to gain a competitive advantage. This to me is the most effective way to compete in a highly competitive globalized market place. Not everyone has an idea nor the funds to create and implement a radically innovative product, however, if one can develop and implement an innovative business model they would have a fighting chance - even if they are offering the exact same product or service as the competition. An example of this, again outside of the obvious major corporations, would be in my previous industry. I worked in the music industry for over 6 years, and as we all know, the music industry is one of the most competitive and most effected by the advent of the internet, therefore competition is fierce with saturation on all fronts. So how does one enter the market place and cause other, more established competitors, to notice? By having an innovative business model. There are a few that come to mind: one being Jingle Punks and the other Music Dealers. Both of these companies entered the industry in 2008 and are now two of the most recognized in the industry. What was their innovative business model you ask? Well, they implemented a 50/50 business model where the artist splits the gross revenues 50/50 with the company. Granted this is not a sustainable business model for any business in any industry; however, it enabled them to build their catalogs with above average content quickly - thus enabling their competitive advantage when marketing to and courting clients.

Company Culture is something that has been misunderstood and underestimated in the past, however, has made a rapid resurgence - becoming one of the most important factors for a business to succeed, garner market share, and attract top-level talent. By definition company culture is the values and behaviors that contribute to the unique social and psychological environment of an organization. Many companies use minor incremental (sometimes radical) innovations in their company culture as a competitive advantage and to court and retain talent. A company that comes to mind is Zappos. They are known for their innovative cultural design which empowers all employees, encourages change and personal growth, creates a fun, light and positive environment, has an open horizontal structure, and has a list of core values that all employees adhere to. Their CEO Tony Hsieh has even written a book based on the importance of company culture called Delivering Happiness. Checkout their core values here.

Overall Strategy is something that all company's must consider, preferably prior to launching into the market, and should be monitored constantly and adapted as necessary. By definition strategy is the quest to gain and sustain a competitive advantage. Sounds simple enough, right? Well, you'd be surprised how many companies (small and large) are lacking an overall strategy and are just "winging it" day by day. A strategy is not just "let's make money". It is the managers theories about how to gain and sustain a competitive advantage; How a company differentiates itself; What to and not to do, etc. Furthermore, strategy is a combination of all of the aforementioned topics, and an innovative strategy is what separates a company from the competition. A good and obvious real world example of this would be Google. Google is by far the most dominate search engine with over 68% of the overall market share. This is despite competition from Yahoo!, Microsoft Bing, and the Chinese search engine Baidu. How can Google maintain such a dominant position in an industry where billions of people use the service on a day-to-day basis? Innovative overall strategy!

As mentioned above, we are now operating in a highly competitive global economy and innovation is considered the most critical aspect of business moving forward. It is no longer just a buzz-word, it is essential across all business units and industries. If you're standing still, you're falling behind exponentially.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Lifestyle: So much to learn, so little time

noreply@blogger.com (Anonymous) — Sat, 09 Aug 2014 01:30:00 +0000

I can remember growing up and not even thinking twice about how important it is to learn and be educated. My primary focus was on playing sports and enjoying time with friends - that was the most important thing. Throughout grade school and high school I basically coasted along, going through the motions and getting mostly B's with a few C's and A's, mostly without much effort outside of the classroom. This mind-set didn't change much, maybe even declined as I graduated high school and went to junior college at Harper and ECC. I barley went to class and had no desire to learn anything new. You could say I thought I knew it all as most teenagers assume - at least the males. I pretty much spent most of the time partying with friends and enjoying life, without even a clue as to what I wanted to do.

Moving on to my decision to go to a four year college in 2000. I felt I had to do something as I, and the majority of the people I was hanging with, really had no direction - and drifting through life. So I had a self-realization, so to speak, and went through (mentally) what it is I really like to do, outside of playing sports. I came up with two paths - both of which would enable me to move out of the mid-west and to the west. It came down to culinary school and film/audio school. Well, I chose to go to film/audio school at Columbia College Chicago. This is where things started to change for me mentally, as the subject matter and teachers at Columbia were intriguing, engaging, and informative. Although I had been more engaged than ever, I was still only giving about 75% effort towards learning, homework, and classroom participation. This could be attributed to just growing up and realizing how the world actually works or just slow to adhere to authority. Needless to say I graduated with a 3.0 average (not bad) and made the move to Los Angeles shortly after.

Not to lose sight of what this post is about, as it's not about me per-se but it gives a real life example to compare to; it's the fact that there is so much to learn and so little time. The amount of information out there that we now have instant access to is mind-boggling to say the least. This phenomena really hadn't occurred to me until recently. Learning is actually addictive, and the personal growth one can achieve through this access to information can be exponential. I say exponential meaning once your mind is trained to obtain and process information and you break through the misconception that you know everything and/or are content with who you are and what you know, the craving to learn overcomes and drives you.

Take for example my recent studies at Northeastern University where I obtained my MBA. The amount of information and knowledge I gained just by dedicating myself to learning the material has been a life changer for me. I like to describe it as a mental evolutionary leap. It was the first time I actually gave 100% effort towards school or any learning for that matter. Now, I can essentially talk business and economics with anyone, from Fortune 500 execs to Professors to regular people. To be honest, it has gotten to the point where I'd rather sit down and read a book or watch an educational documentary, or a TEDTalk than some mindless television show or movie. I've even contemplated going for a PHD, if it did not cost an absurd amount of money of course.

The point is, once you realize the importance of education and the value of being informed, the more you want to know and obtain, and the less time you want to waste on meaningless content - it's an addiction just like cigarettes or alcohol. Further, the more educated one is the more freedom one has and the less chance one has of being controlled by fear. Couple all that with the fact that life is short, even if you live to 90, that is only a blink of an eye in the broad scope of life on earth.

We are living in the information age, and now have access to everything and anything at the push of a button or by typing a few keywords in a Google search. Many of the top universities are now offering their courses online to anyone interested, granted you will not get credit or a diploma; however you will gain the knowledge which can be applied to your daily life and career.

Learn as much as you can while you can - you will not regret it - and no one can ever take what you've learned away from you. You can lose material things, family and friends, but what knowledge you have that is yours (outside of a mental disease or injury). In my opinion the most important thing to living is consuming information and growing as a man and as a human. And then passing that education/knowledge down to others willing to listen and learn.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Entrepreneur: Most valuable asset

noreply@blogger.com (Anonymous) — Wed, 06 Aug 2014 00:45:00 +0000

Being an Entrepreneur or a small business owner is not for everyone, nor is it an easy thing to do. If you ask 100 people what they would like to do with their lives, as far as who to work for/with (if they had a choice), over 75% would say for themselves. Well, as we all know the majority of people do not become entrepreneurs or small business owners, although the numbers are higher than they've ever been due to economic reasons and the advancements of technology, which have made it easier and more affordable than ever to start and grow a business (if you have a well-defined plan and understand how business works). According to Forbes, nearly 13% of American adults are involved in startups in 2012 (record high), and nearly 400 million entrepreneurs world-wide (54 countries). These numbers are great news for the future of the global economy, not to mention the fact that entrepreneurs are ranked as some of the happiest people on the earth. Do keep in mind that there is a difference between a small business owner and an entrepreneur, just because you work for yourself does not mean you are an entrepreneur. That is another topic for a separate blog post.

So with that in mind, let's continue on to the topic of this blog post, "Most Valuable Asset". What I'm saying here is: What is the most valuable asset to an entrepreneur or a small business owner, other than the obvious, capital, of course. First, let's breakdown a typical scenario that virtually every entrepreneur or small business owner is in, or has been in at one point in time. Typically a small business or entrepreneurial startup has access to limited resources, including people. Most of the day-to-day operational duties would be/are handled by the owner or owner(s), with very little time to do anything else. An entrepreneur or small business owner will work 6/7 days a week and any where from 12 to 18 hours a day. Some of you just made a face as if your stomach just dropped, yes, this is true and necessary for the business to thrive and grow into a mature entity. However, no need to feel sorry for these risk takers, as the long hours are typically well worth it for the sole reason that entrepreneurs usually love what they do and would rather be doing nothing else but running their business.

Now that we have a general overview of what it's like to be an entrepreneur/small business owner, what is their most valuable asset (other than capital)? As stated above, an entrepreneurial enterprise typically will have limited access to resources, particularly people/employees, which brings me to the point I am trying to make, people are your most valuable asset. And it's not just people in general, it's high quality people; people that understand what it's like to run a small business or startup - "go-getters" as they say. It's not like a corporate gig where you work in one department and have one or two basic job duties and you work 9 to 5. No, a typical employee at a startup will easily have five or more duties on a day-to-day basis. Much of the time these duties will range from low-level intern/entry level type work, data entry, coffee, research, answer phones, etc.; to executing business / marketing plans, financial forecasting, business development, operations management, ordering supplies, traveling, etc., on top of working 12 - 16 hour days. Sound fun? Well, if so I'd recommend finding a startup or starting your own business.

My point here is this, not just anyone can fill these positions. As an entrepreneur or small business owner, you are only as strong as your support (team) staff, whether it be 1 or 2 people or 5 or 6, you need high quality, motivated, intelligent, tech-savvy, diverse, individuals. People that can multitask and add valuable input everyday, all day. People that can think outside of the box and create new operational processes or marketing techniques and implement them on the fly. This is your most valuable asset (people), so you better make sure they are appreciated and taken care of - even before your own needs are met, because once you lose a good one it is extremely hard to replace them - not to mention the loss in productivity, capital, and potential revenue over time.

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Lifestyle: Do what Dogs do

noreply@blogger.com (Anonymous) — Thu, 31 Jul 2014 02:00:00 +0000

I'm sure the majority of you are thinking to yourself, what does he mean, do what dogs do? Well, I will explain my logic behind this phenomena that has been peeking my curiosity over the last 4 years. I'm definitely not saying people should go around and "evacuate" all over the neighborhood, I'm talking about how a dog appreciates life no matter what they are doing.

If you own a dog I believe you would oblige with what I'm saying here, unless you are not present and happy in your own life, then all vision would be cloudy, including your mind. But for those of us that do appreciate what our pooches have to offer, much of what I'm going to say will make complete sense at least on the surface. Granted the following will be based on my personal experience of owning a dog and interacting with other dogs at dog parks and friends/family's houses, etc.

So what do I mean, do what dogs do... For starters when you're out walking your dog, and they're all excited just to be out walking around the neighborhood, smelling all those wonderful smells, lifting their leg or squatting to pee on stuff - they are in heaven - nothing else matters. Now, at that very moment ask yourself how happy am I right now, or what am I thinking about. My dog is elated to be outside walking around, smelling and peeing on stuff, while I'm thinking about or stressed out about something that happened earlier or worse, something that hasn't happened or may not even happen in the future.

Another example would be when you take your dog (aka best friend/li'l homie) to the dog park, or a friend comes over with their dog, and the dogs are are so excited they can't even contain themselves, tails are wagging, whining, etc. Now, when was the last time YOU were this excited to see a friend or family member? I'd argue a long, long time ago, if ever. How about when you come home from work after an 8 to 10 hour day, who's at the door waiting for you to come inside wagging their tail? Yep, your dog.

Dog's are masters at living in the moment, granted they have no concept of time, and appreciating all the basic aspects of life, the little things that actually matter, which many of us forget. Most of us (humans) get caught up in our heads, thinking about the past and/or future, when none of it really matters. Well, as long as you've learned from the past and don't continue to make the same mistakes. And the future, well that's out of our control, most of the time much of what we think is going to happen in the future does not even come to fruition; thus, causing you to miss all those smells and wonders of mother nature that all animals appreciate - and since dogs are usually the ones that live amongst us and are apart of our daily lives, we should take notice of how they react to their environment and enjoy life, and make an effort to understand why this is. It will change your perspective, at least for a moment, and that's a start.

So next time you're out walking your dog take the time to smell, look around, and who knows, maybe even pee on a tree or two! (that last one is a joke, hahahaha)

As always, I'd love to hear your comments on this topic, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll

Business Strategy: True Company Identity

noreply@blogger.com (Anonymous) — Tue, 29 Jul 2014 02:17:00 +0000

Follow @modernmantells

I see this far too often when consulting and communicating with friends and clients who own/run startups and small to mid-sized businesses - NO true company identity. The lack of company identity is at the top of the list when it comes to failing small businesses and/or start-ups, and should be addressed from the initial launch if possible, as the longer this goes on, the harder it is to fix. There is far too much competition in today's global economy to not have a company identity. What I mean by true company identity is: What type of product/service do you offer? How much does it cost? Who are your target demographics? Is your product/service of poor, good, or great quality (hopefully good to great)? What type of culture does your company have? Does the branding of the company portray what you do? etc. The point is, potential and current clients must be able to identify with your product/service quickly, so when they are searching for it they can immediately identify what it is you do and what your company is about.

Now, I understand the fact that running a small business or start-up is extremely difficult (I've been there) and it truly is survival of the fittest. In order to make bills and bring in cash many owners become frantic and will except any and all work, service a diverse set of clients, etc., as long as they are comfortable doing the job, selling the product/service, etc. However, this is only a short-term strategy and usually ends up costing the firm in the long-run. For instance, let's say you have a small business with 5 or less employees, including you. This is not a lot of people and one would assume your access to resources such as capital are minimal to nonexistent; therefore, everything you do needs to be calculated in such a way that nothing is going to waste (time, money, people, etc.). Granted this is a lot easier said than done, when the reality and fear kicks in and you need to make X amount to make rent this month, things begin to scatter and unravel. I'm sure many of you have been there, as I've seen it one too many times. This is the reaction of a small business owner who has failed to create, implement, and communicate a true company identity prior to all the panic and fear setting in, I call this " survival mode", doing anything at all costs.

The problem with lacking an overall company identity, as stated above, is the issue of panic and fear will be reoccurring. Yes, you may have a good month or two and think to yourself (or thank higher power) your problems have been solved. Well, chances are this will happen again and again, and you will have a bad month or two in a row, then what? The reality is, yes, you took in any and all jobs that you and your employees skill-sets can handle, however, your company is still lost and new and potential clients will not find you if your brand and company is all over the place. So make sure when it comes to true company identity you have one.

A new start-up or small business does not have the time nor the resources to continue down this path, so make sure your next venture, or this one, has been branded as such that it can be easily identifiable to everyone - exactly what you do, your product/service, etc. And once its identity has been determined commit any and all resources towards securing a favorable market share in that space. Once a desirable market share has been obtained, then, and only then should you attempt to extend your product/service line, target markets, etc. This is not to say, a company should not be thinking ahead and working towards a viable and sustainable vision for the company at all times; or taking on jobs that are not in line with the identity; if you have the time and resources by all means take on the work as long as it's not obstructive to your day-to-day operations. And if you have dedicated yourself and your company towards this identification and things have not gone as planned, then adjustments need to be made accordingly. However, I firmly believe that if a company has done its research and its leaders have properly created a true company identity, all resources are dedicated and focused on obtaining market share in that space, the company has positioned itself for success and a chance for survival, at least throughout the growth phase.

As always, I'd love to hear your comments on this topic, True Company Identity, so please leave comments if you desire.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Ciao,

ModernManTellsAll

Lifestyle: Lost Nature

noreply@blogger.com (Anonymous) — Thu, 24 Jul 2014 02:00:00 +0000

Nature is all around us, and yet so many of us choose (subconsciously or consciously) to be surrounded by technology (all day) and consumed by the daily grind of work, family, social media, traffic, TV, shopping, etc. It's almost as if we forget it's even there, or what our backyards, parks, beaches, forests, etc. look like and have to offer. I know for me it took a separation, if you will, from my last employer to even get to the beach, which is only 15 miles away!

For the last two years I was pursuing my MBA, studying 25-35 hours/week and working 45-50 hours/week, with barely any time for my dog let alone myself. Now, I know some of you have families to care for, but that is not the point, as it is the same no matter what way you look at. So for two years I never made it to the beach, and I have access to some of the best beaches in North America by way of Los Angeles. Sad isn't it?! The first Monday I had off, the first thing I did was drive to the beach and chilled, kicked back, listened to the ocean, surfed, read, etc. for a few hours, and the entire time I was thinking, man how is it that it took this long and something as extreme as parting ways with my old job to get here. I know this is how many of us live and I'm here to tell you to stop and look around as much as you can - go out into nature (hiking, beaches, parks, lakes, etc.), time passes bye so fast that we'll be old before you know it.

Nature for me is like recharging the batteries. I try and go out on hikes at least four times a week - mornings are best. Granted living this close to Griffith Park affords me the luxury of having access to great trails, and in the mornings there's barely anyone there. And those that are all smiling and happy to be outside walking their dogs, with friends, by themselves, no matter what they all smile and say hi and good morning. There has to be something to it, as for me, starting my day this way enables me to appreciate the little things I am lucky enough to have. Things such as my health, being able to run and climb hills, my happy ass dog, living in a city where I can disappear into nature in less than 5 minutes, friends, family, etc.

One of my favorite things to do is go off on a "side-trail" where most people will not hike, and hike up to the top and just sit there; take in the silence, well sometimes, as it is still LA and there are police choppers flying around on occasion, but they'll eventually disappear. Even still, sitting up there, away from the concrete jungle and random people that are stressed out, missing life, hate their jobs, and on their phones non-stop is enlightening - even if it's for 10 or 20 minutes. Not to mention it really slows things down, at least for the amount of time you are out taking in nature - 20 minutes could feel like an hour in "the real world".

If you really think about this it truly makes sense, we as humans have only been this disconnected from nature for around 100 years, in most cases much less. I am not here to tell you to abandon your smartphones, laptops, iPads, etc., as I am all for technology and it's purpose and functionality. As a matter of fact I consider myself a connoisseur and extremely tech-savvy. Furthermore, I appreciate all that it does and will do for humans in the future. The amount of information that is instantly accessible; the connectedness across the globe, efficiency, productivity, etc. However, I am saying for your own well-being you should go out and enjoy nature as much as possible. Think about all the time you spend in a day on Facebook or checking your phone just to find out you missed nothing; that email was spam; you already saw those pictures of your friends kids; or read some absurd post by someone that lacks the expertise/knowledge to speak on such a subject, etc. I'm sure you get the point.

Add up all that time you spent in your day and then spend that amount of time out in nature, whether it be 10 minutes or an hour - believe me it will be well worth it. Chances are you will become far more productive at work as well. Remember, you are in control of your time and your life - no matter what responsibilities you have. If you manage your time properly, you will have time to go out and appreciate what nature has to offer. I bet it's more inspiring than what you'll find online (most of the time).

As always, feel free to leave any comments as they will be read and replied to.

PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.

Until next time...

ModernManTellsAll

Marketing Strategy: To social media or not

noreply@blogger.com (Anonymous) — Mon, 21 Jul 2014 18:15:00 +0000

Follow @modernmantells

To use social media or not? This is a question virtually all firms (small & large, public & private) in all industries should be asking themselves, and if they are not, they better start.

Flashback 10 years (web 1.0) ago and this question would not even had been an after thought, as many of the top social media applications did not even exist, or were barely in their infancy. That said, some people/firms did see the advantages and effectiveness of what social media channels, namely Facebook, YouTube, and more recently Twitter, have to offer, enabling the competitive advantage of a having a head start. The numbers alone on Facebook, Twitter, and Youtube were/are hard to ignore, even 5 or so years ago.

Now, in 2014, or web 2.0 as they say, the numbers are impossible to ignore, where YouTube now gets over 1 billion unique visits a month and 100 hours of video uploaded per minute! Facebook has well over 168 million unique visitors per month. Twitter has over 48 million unique visitors per month. LinkedIn (my favorite) is now at over 38 million unique visitors per month. Pinterest now has over 38 million unique visitors per month as well. Tumblr is now at over 24 million unique visitors per month. Instagram has well over 200 million unique visitors per month. Google+ now has over 105 million unique visitors per month. There are countless other social media platforms out there, with new ones popping up everyday, however, many do not last, nor are worth spending valuable time and money on. That said, the above are all well established social media sites, I did leave out Vine, which can be considered as a viable option as well, but not one for the majority of people/companies reading this post.

OK, so we know there are billions of people across the globe scouring the aforementioned social media sites, so which one(s) do you use? Yes, it can be overwhelming when sifting through the various options social media has to offer, and they all have their own unique functionalities, audiences, communication techniques, etc. For instance, not everyone that has a Facebook account will have a Twitter account; or someone that's on YouTube and Instagram may not use Pinterest, etc. Therefore, a company must decide which social media platforms are the best options for their company and industry.

Choosing the right social media platform(s):

First of all, a business owner/marketing manager must ask the important/critical questions: Which social media platform(s) will garner the highest ROI? What social media applications are my target audience(s) using at this moment? What is the best way for the firm to go about courting new potential consumers? What type of product(s)/service(s) does your company sell/offer? What are the most effective communication techniques to apply on each individual platform? How much time/resources do we have to allocate towards social media? Etc.

Once the target social media platform(s) has been identified, then, and only then, should a strategy be developed. But first, the business owner/marketing manager must become accustomed to the functionalities and nuances of the platform(s), and if they are not they should (must) find and hire someone that is well versed in social/digital marketing. Some companies can get away with hiring social media interns as this is was common place a few years back; however, I would not recommend this as many times these interns will lack the awareness and knowledge of your industry and by the time they learn and understand it they will be long-gone; or they only make it a week or two and then you have to find another. This process alone can prove to be quite costly, not to mention wasting your valuable time. Nowadays, many colleges and universities are providing majors in social media/digital marketing, or at the very least, are incorporating social media/digital marketing classes into their Marketing programs. I know when I was pursuing my MBA (as a Marketing major) at Northeastern University, we were required to take a digital marketing class, which proved to be extremely valuable. As I stated above, all the social media platforms have their own ways of connecting and communicating, and not understanding this will result in a huge waist of time and more than likely - capital.

Moving forward, now you (or someone that does) have a firm understanding of which social media platforms work best for your company and the industry you are competing in. Furthermore, you have analyzed and done some research on how they function and the nuances of how to communicate. It is a great idea to checkout your direct competitors to see what they are doing (as far as content) and how they are gaining followers (potential customers), and which social media platforms they are using. Usually this is a good indication of which ones work best, particularly if you pay attention to industry leaders that have a large number of followers and likes/shares. Now it is time to develop an Integrated Marketing Campaign/Strategy, which is an entire different topic, and should be done by a trained professional or under the consultation thereof.

To Social Media or Not:

So the question is, to social media or not? Considering the alternative, I'd say it is not only wise to begin (if you have not yet) implementing a social media campaign (even if it's just an individual platform), but also is necessary if you plan on growing your business, increasing brand awareness and market penetration now and well into the future. Not to mention the fact that social media is a great and affordable way to be creative and brand your company to your liking. That said, if you are clueless as to how to utilize social media, or do not believe it is effective, I would recommend speaking with a marketing professional(s), researching online blogs, articles, competitors, etc., prior to allocating time during your work day to figure it out or "play around" as it can be extremely time consuming - hours could go bye before you even realize how to post a proper "Tweet". In closing, I believe social media, when utilized properly, with an effective Marketing Strategy, is the most efficient and effective marketing tool to be implemented to date. And as time goes bye this "web 2.0" is only going to grow exponentially, so to answer the question - YES, you should start using social media and get connected to your customers ASAP.

I'd love to hear your thoughts on this, so please do not hesitate to leave comments - I'll read them all!

PS - If you would like consultation on the implementation of social media and Marketing Strategies, feel free to email me at: modernbizstrategy@gmail.com.

Cheers,

ModernManTellsAll