Are Businesses Run By Idealists or Crooks?

Neither, with a few exceptions.

Businesses are run to meet buyers' needs and to make a profit. How they behave is subject to the urgency of the buyer's need and the value the buyer places on satisfying that need.

To illustrate, let's look at two ice water stands set up by some neighborhood kids.

Scene1: The local marathon finish line is in the neighborhood and the two ice water stands are set up by the finish line. Stand One is at the finish line – ice water is 25¢ per glass, and Stand Two is 20 yards past the line – ice water is15¢ per glass.

Which stand gets the runners business? Stand One get the business because the buyers urgency is to satisfy the thirst not shop for a 40% discount.

Scene 2: The popular local park attracts a lot of visitors and the main park trail ends in the neighborhood. Stand One is at Trail's End – still charging 25¢, and Stand Two is 20 yards further – charging 15¢.

Which stand gets the park visitors business? The urgency of satisfying the thirst is significantly less for the visitors than the marathoners, consequently, the value of a glass of ice water is lower and a majority of visitors will seek out the lower priced water of Stand Two.

Scene 3: The local road cuts through the neighborhood with few cars per hour. Stand One is located at the speed bump and Stand Two is 20 years further up the street – no change in the pricing by either stand.

Which stand gets the drivers business? Probably neither since there is no urgency of need and many other alternatives the driver can seek beyond the two local stands.

Is Ice Water Stand One being mercenary for charging a high premium because of its prime location in Scene 1?

Is Ice Water Stand Two being predatory for discounting prices significantly in Scene 2?

Probably not – the stands are responding with their approach to meeting the buyers' need-value proposition and to market competition.

While Stand Two may have set prices based on a “fair profit” as an idealist, the more likely reason is the discount is an attempt to influence the buyers' need-value mix to attract sales. Similarly, the premium charged by Stand One is recognition of the urgency of the buyer to satisfy the need while recognizing the buyer has a competitive choice is value takes precedent over urgency.

Do these principals scale to other businesses? Yes, and they become more complicated as new variables are added which affect cost, output, and regulatory or social restrictions.

Buyers won't buy unless they believe the need will be addressed by the seller's solution and the price is compatible with the perceived value.

Is this why organizations with money in the coffers but few customer sales are not interested in buying services to improve operations or upgrade technology – and won't invest in improving the sales process?

What are you seeing?

 SalesLab’s next Rainmaker, (Number 8!) is Google + Your Personal Website, Fast, Free, and Findable! the first 300 seconds of the Capital Technology Management Hub, at 6 pm, Tuesday, October 11^th. The headliner is Overcoming Mobile Challenges in the Federal Government - Sponsored by TeqCorner, featuring Ferhan Hamid, CEO and Vikrant Binjrajka, CTO of INADEV.

Google Event

We have been using Google sites and other features to great success. We would like to share with you an event for business taking place on Tuesday September 20^th. Using Google Sites and other Google tools participants will leave the session with a website and their business address registered with Google Places, which is searchable on Google Maps. Check it out if you are in Northern Virginia, DC, and Maryland – it's located in Manassas, VA, and it is $0 cost.

The event:

Google and friends are coming to town to get your business online!

Virginia Get Your Business Online events are completely free. Space is limited, so we highly recommend that you pre-register online to reserve your spot.
If you don’t have a website or Google Places listing, you’ll find everything you need to get started – web professionals at your side every step of the way. We’ll also provide the computers or a plug-in for your own laptop.
If your business is already online, you’ll find tools and resources to help your business succeed online.
At these events you can:

• Get a free website and Google Places listing
• Get 1:1 advice and tips
• Learn more about online marketing
• Network with your fellow small business owners
  

Manassas - Tuesday, September 20th

Register for 9/20

Hylton Performing Arts Center
10960 George Mason Circle
Manassas, VA 20110
Doors open 7:30 am - 7:00 pm

For more information and to register for this free event go to: http://www.virginiagetonline.com/index?utm_source=g-feet-invite-tracking

New Normal – Asynchronous Collaboration

When we were all physically located in the same building collaboration was a collection of meetings to reach the stated goal. First to flesh out the details of the project – go from concept to specific, consensus from contributors, logistics & interim deadlines from participants, and collective review of it all. Meet and work together – or go away and work, come back & share.

The outcome was labor intensive and time consuming – all these people meeting together for all those meetings – to satisfy the original purpose or charter of the project. The initial development and interim refinement of the project was a function of the participants' ability to articulate ideas and persuade others to adopt them – the result was often consensus conservatism or the leader's fiat.

Innovation is difficult in such an environment – it's hard for an innovative thinker to convey a new idea or approach verbally and achieve the needed consensus – even with visual or written aids. Collaboration was often just the same old work with a rotating resource pool. Breakthroughs and radical new approaches or products were rare.

In the environment of the New Normal the model is changing (or has) with a number of independents or small firms coming together from different locations to collaborate on a project. Once the initial discussion of the project vision, the goals, the time line, and the assignment of responsibilities has been completed – usually not with all participants physically together in the same room – the work begins. Under the New Normal there is a shift in the method of approaching the work, however.

It is common for one of the contributors to work up a high-level but detailed view of some or all of the project outputs and send it to the other collaborators for review and comment. During this process, the contributor has fleshed out specifics, relationships of components, design strengths & weaknesses, and alternative or innovative approaches to achieving the project goals. With focus comes learning, with application comes understanding.

The other collaborators review what's provided and offer feedback and alternative ideas. Adjustments are incorporated as necessary and the next contributor takes this work to build on for the next level of forward progress in the project.

I am part of an asynchronous collaboration project to develop a software tool – one contributor wrote descriptions of what the tool is intended to do, how he would use it, and an outline of the output to the user. From these documents, I developed the design architecture for the tool and noted additions needed, and interrelation ships in operation. The third collaborator coded the software from the design diagram and added several additional items while streamlining access to the different elements. Between each stage was a brief conversation and agreement on changes & additions.

Each of us learned more about the tool and discovered element to add or modify for greater effectiveness, while gaining a deeper understanding of how best to support the end user. We have also noted that this approach does not add to each person's 'hands-on' time, but it significantly eliminates the non-productive meeting time of the past collaboration process.

With collaborators today in many different locations and organizations, balancing multiple projects, and being compensated on results rather than time spent, the New Normal asynchronous collaboration is a more practical approach to working together. In addition, innovation is built in to each stage – it is implemented and can be reviewed in practice, not just talked about in concept.

Share your experience with asynchronous collaboration by commenting on this post.

SalesLab’s Rainmaker series returns to the Capital Technology Management Hub, Tuesday, September 13^th with 300 seconds of Mark Your Territory. The featured CTMH speaker will be Professor Steve Gladis, author of The Agile Leader. Come join us!

Observer or Leader?

I go to a lot of meeting about leadership and similar topics and sometimes I get a flashback to the high school dance – where a few folks are dancing while others are looking on trying figure things out (and even practicing some moves) so they can join in. Leaning against the back wall are the cool kids – they claim to know the latest dances but just talk about it rather than actually hit the floor.

The dance image is a pretty good analogy for people in the practice of leadership – the Doers, the Pupils, and the Observers.

The Doers are engaged in actively executing the role – learning from the experience.

The Pupils are soaking in everything they can to master the tools of leadership – learning from others' experience.

The Observers are watching and reporting on leadership activities – recounting what others have learned and experienced.

Leadership requires doing, learning, and working on how to do it better. It is a continuous process because leadership is not a formula, it's not a set procedure, it's not a few rules printed on a flash card – successful leadership is dynamic and is adaptable to changing circumstances. It strives for results and points everyone toward the same direction to achieve them.

I once had a boss who refused to listen to a problem brought to him unless a solution was also offered. He gave me a valuable lesson in leadership – be a doer, be a thinker, and be engaged. This approach encouraged innovation and got rapid results.

An innovative approach to an issue requires more than simply creating new-speak by redefining key terms, or imposing a raft of new rules – often this creates churn but not movement, and can delay real doing. Observers can be guilty of offering such solutions in their quest toward how things should be, which supports their reporting about leadership.

Which approach – Doer or Observer – fosters results and movement toward the stated mission – the hallmarks of a leader? So, by extension, does it come down to a choice between being a Leader or being an Observer?

How do you feel about this distinction?

Sales Lab’s Rainmaker series returns to the Capital Technology Management Hub, Tuesday, September 13^th with 300 seconds of MarkYour Territory. The featured CTMH speaker will be Professor Steve Gladis, author of The Agile Leader. Come join us!

Rainmaker # 7 - Mark Your Territory

Animals mark their territory to help keep competitors away. I think it also helps to remind the hunted (prospects) they may be dinner someday.

In business we also mark our territory – by letting folks know who we are and what we offer.

How?

Tell them.

Show them.

Remind them.

Tell them on your website and blog about your capabilities and what you offer.

-No Website? No Blog? No Business!

Show them your results through recommendations and stories/articles from the client's point of view – how they benefited from your work.

- How do you get recommendations? Ask!

Remind them by always leaving something of value with them whenever you 'touch' them – which includes your contact information.

- Who you are, how to reach you, where to learn more (website/blog), and a bookmark for what you offer (tag line or catchphrase).

Mark your territory by being visible – even when out of sight - and findable, while familiarizing your prospects on your capabilities and results.

One final point: Never!!! go to a meeting naked – no business cards; no handout, no nametag. Marking territory is full time work.

Sales Lab’s Rainmaker series returns to the Capital Technology Management Hub, Tuesday, September 13^th with 300 seconds of MarkYour Territory. The featured CTMH speaker will be Professor Steve Gladis, author of The Agile Leader. Come join us!

The previous Rainmakers:

Rainmaker # 6 - Networking – Are you Being Served?

Rainmaker # 5 – Start With An Offer

Rainmaker #4 – Time, Talent, and Treasure

Rainmaker #3 – Process to Purchase

Rainmaker #2 – The Nametag

Rainmaker #1 - Gifts

A Dozen Golden Nuggets from the Blog Lab Event

The WebManager's Roundtable and Dick Davies put on a powerful practical workshop for active organizational bloggers – covering a broad range of attendee inspired topics, such as process – better/easier blogging; managing – avoiding blogger burnout or lighting the flame; volume – achieving greater distribution & getting more readers; comments – being a comment shill & reader contributions; and writing – finding the voice the readers want & building relationships.

From the wealth of material at the front of the room and tips and techniques shared by bloggers, here's some of the best - a dozen golden nuggets:

• Always be thinking about your next blog and potential topics as you attend meetings, events, have conversations, read others – what can I add of value
• The Rule of One – one thought per sentence; one subject per paragraph; one topic per blog post
• On Editing: overworking a blog is like overworking a piece of metal – eventually it weakens & breaks
• About comments: do you invite them; conduct reader surveys; use the recent or most commented widgets; comment on other blogs; give a timely reply to all comments received or acknowledge them; and reuse the comments (with attribution) in other places
• Every post must have a purpose – as the test: Why would you want to read this post?
• A post offers another view; advocates a position; shares thoughts & ideas; educates; illustrates; and gives desirable alternatives – be clear in your mind and consistent within the post what you are seeking achieve
• Successful bloggers set a goal and run to meet that goal – e.g., 5 paragraphs, 10 lines, two posts per week
• Web 1.0 was push oriented – put it out there; Web 2.0 was two-way oriented – asynchronous dialogue; Web 3.0 is just now coming in with computers using comments, reader feedback, news, and other data sources to create content on the internet
• Timeliness is important when blogging; credibility is critically important as a blogger
• Analytics are useful to a point – don't obsess on them
• What a quick gauge of the influence of a post – Google the title to see who is reposting it and commenting on other sites
• A snappy title can draw in readers – scan Buzz for current hot phrases for ideas for your headlines

And #13 for a baker's dozen: just as you may have different private and public personalities, as a blogger you have an electronic (on-line) persona – the you that appears to your readers through your blog and posts; establish and refine your voice as a blogger and work to strike a clear picture of who you are and remain consistent to that image – don't write like a professor one day and a comedian the next. This is who the readers are developing a relationship with and who they will follow in Google Reader.

Comments keep the learning going – please share your nuggets to help us all learn to blog better.

Top 10 Things Learned at Blah, Blah, Blog

Yesterday, at the Web Managers Roundtable, I was treated to a panel of experienced bloggers and got several pages of notes about better blogging. Here's the Top 10:

• Dana Blankenhorn observes that blogging is an intimate relationship with your readers – let them be your guide
• Carol Covin told of finding a void & filling it with a blog to tell rich stories for others – she noticed at book signings that people would share their stories but didn't write them down to share with a broader audience
• Randy Rieland integrates multiple forms of media to present the blog – this evolved and grew by doing
• Dick Davies is consistent about publishing twice per week and that for him an ideal blog is 5 paragraphs, 10 sentences
• Do not waste people's time – cut to the chase and make your point – short can be better
• Blogging is not a hobby – when thinking about writing a blog, make a business case for it: Who are your writing for; What topic/subject area are you writing about; Why are you writing to these people and about these issue?
• Write in your voice – be you in your writing – do not try to write in the voice of the organization
• Looking for content and ideas for topics for the organization's blog? Talk with the person in the Big Chair – they like to talk about what they do – but don't forget to jot down interesting ideas, topics, issues when you come across them...every event has potential for a great blog
• Blogging requires discipline – take your passion and vision and put it on a plan – declare how often you will post and do it, the readers will come to expect your posts on a cycle – they will not stay around for erratic publishing
• Share your stories, ask questions, set scenes, but do not try to solve problems when writing – regardless what you think you are writing about, the reader interprets the post in terms of what is on their mind.

And number 11 is – don't just talk about blogging – do it and make each one better than the one before.

Check out BlogLab, coming August 16 for a roll-up-the-sleeves view of blogging.