This year is flying by and so far I feel rather unaccomplished.
I need a new challenge.
Thursday, April 22, 2010
Wednesday, April 14, 2010
Business Development, No Longer A Numbers Game
Aim and then fire. Business Development is more than a fancy name for Sales and this world of Business Development is no longer a numbers game.
Over the past few years new companies threw their names around by blasting mass emails and phone campaigns hoping to do business with whoever responded. Now in this digital age of 2010, companies along with individuals are being inundated with marketing. If you want to land a deal and make a difference, the approach must be that of a Joint Venture.
Strategically select a company with synergies and a large customer base. Make sure your target companies do not already offer your product / service or something too similar. Be deliberate and establish a point of contact who is a decision maker for the company, begin to build a relationship then ask for a partnership. This may take time, however the long term benefits and revenues will be much stronger in the end.
Over the past few years new companies threw their names around by blasting mass emails and phone campaigns hoping to do business with whoever responded. Now in this digital age of 2010, companies along with individuals are being inundated with marketing. If you want to land a deal and make a difference, the approach must be that of a Joint Venture.
Strategically select a company with synergies and a large customer base. Make sure your target companies do not already offer your product / service or something too similar. Be deliberate and establish a point of contact who is a decision maker for the company, begin to build a relationship then ask for a partnership. This may take time, however the long term benefits and revenues will be much stronger in the end.
Tuesday, April 13, 2010
Business 101, “It’s not personal, it’s business”
Often, I wish I could be the squeaky wheel that gets the grease. Wish I could be the mad, mean, loud customer that always gets their way. But instead, I’m consciously torn between emotion and logic with an inward knowing of right and wrong. It’s not right to pitch a fit and act like a two year old when you’re a grown adult. Yes life is expensive, costs money, and sometimes the product delivered does not meet expectations…that being said, here’s what happened today.
A customer called in and spoke with our customer service department requesting to cancel their subscription to a website service we were providing. After 11 months of continued hosting of their site, the customer is demanding a full refund. Our customer service representative did as she was trained to do and clearly communicated to the customer that a refund was not possible as they should have canceled their subscription long ago. Needless to say the issue escalated to me, and then to our CEO.
After several offers of partial refunds and service credits, the customer continued to refuse stating she was going to pursue other options. At the end of the day, we issued her a full refund. Naturally, I did not “feel” she deserved the refund as 11 months of hosting equaled 11 months of fees for our company, however as our CEO clearly explained, “It’s not personal, it’s business”. Make one person happy to create positive ripples instead of an enemy who may cause a heap of chaos while bad naming us to thousands before silencing.
A customer called in and spoke with our customer service department requesting to cancel their subscription to a website service we were providing. After 11 months of continued hosting of their site, the customer is demanding a full refund. Our customer service representative did as she was trained to do and clearly communicated to the customer that a refund was not possible as they should have canceled their subscription long ago. Needless to say the issue escalated to me, and then to our CEO.
After several offers of partial refunds and service credits, the customer continued to refuse stating she was going to pursue other options. At the end of the day, we issued her a full refund. Naturally, I did not “feel” she deserved the refund as 11 months of hosting equaled 11 months of fees for our company, however as our CEO clearly explained, “It’s not personal, it’s business”. Make one person happy to create positive ripples instead of an enemy who may cause a heap of chaos while bad naming us to thousands before silencing.
Thursday, April 1, 2010
Discipline
Why is the line so fine between legalism and discipline?
If I say I’m going to run 4 miles but you want me to stop at 3.95 miles, some would say it’s legalistic of me to argue the need to finish the remaining .05 miles. When in fact I would suggest it is only being disciplined. I prefer to train the mind and body to do what I initially set out to do, with no shortcuts in the name of fleeing legalism.
This same discipline should be applied to business as well. When forming a new partnership or joint venture, the integrity of the relationship is much determined by the discipline of each party. Following through to ensure what you each say you will do, gets done with no cut corners. The outcome of a mutually strong and trusting relationship will be a worthy reward for the effort.
If I say I’m going to run 4 miles but you want me to stop at 3.95 miles, some would say it’s legalistic of me to argue the need to finish the remaining .05 miles. When in fact I would suggest it is only being disciplined. I prefer to train the mind and body to do what I initially set out to do, with no shortcuts in the name of fleeing legalism.
This same discipline should be applied to business as well. When forming a new partnership or joint venture, the integrity of the relationship is much determined by the discipline of each party. Following through to ensure what you each say you will do, gets done with no cut corners. The outcome of a mutually strong and trusting relationship will be a worthy reward for the effort.
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