Sep 26

I gave a talk the other day, and at the end a woman sheepishly asked, “when you talk about an asset, what do you mean?”

 

It’s a fair question.

 

For a marketer, an asset is a tool or a platform, something you can use over and over without using it up. In fact, it’s something that gets better the more you invest.

 

Running an ad is an expense. Building a brand people trust is an asset.

 

Buying a trade show booth is an expense. Having a permission marketing list of people who want to get anticipated, personal and relevant emails from you is an asset.

 

What are Amazon’s assets? Well, they have a few warehouses and some fancy software, but they primarily have two: a brand that people trust, and a one-click shopping relationship with 50 million people. On top of that, they have an archive of information about those people, what they like and what they don’t, that makes it hard for someone to switch to another store easily. All those assets together comprise most of what Amazon has built over the last decade or two.

 

If you’re an unknown freelancer, you don’t have much in the way of marketing assets. If you’re Harley Davidson, you’ve got plenty.

 

The challenge in growing a business is in building assets daily, and doing it for less money than those assets end up being worth. Your expenses should generate assets.

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Sep 25

It’s very easy to underrate the value of cultural wisdom, otherwise known as sophistication.

 

Walk into a doctor’s office and the paneling is wrong, the carpeting is wrong and it feels dated. Instant lack of trust.

 

Meet a salesperson in your office. She doesn’t shake hands, she’s fumbling with an old Filofax, she mispronounces Steve Jobs’ name and doesn’t make eye contact.

 

Visit a website for a vendor and it looks like one of those long-letter opportunity seeker type sites.

 

In each case, the reason you wrote someone off had nothing to do with their product and everything to do with their lack of cultural wisdom.

 

We place a high value on sophistication, because we’ve been trained to seek it out as a cue for what lies ahead. We figure that if someone is too clueless to understand our norms, they probably don’t understand how to make us a product or service that we’ll like.

 

This is even more interesting because different cultures have different norms, so there isn’t one right answer. It’s an ever changing, complex task. Cultural wisdom is important precisely because it’s difficult.

 

And yet…

 

Who’s in charge of cultural norms at your organization? Does someone hire or train or review to make sure you and your people are getting it right? At Vogue magazine, of course, that’s all they do. If they lost it, even for a minute, they’d be toast.

 

It’s funny that we assume that all sorts of complex but ultimately unimportant elements need experts and committees and review, but the most important element of marketing–demonstrating cultural wisdom–shouldn’t even be discussed

Sep 19

More than a living actually – was reading the story of BVG India. A 200 Crore revenue company. What does it do?? Facilities Management. A fancy word for ‘ keeping your office clean’. A company started with the objective of giving Maharashtrian Youth employment is now cleaning and maintaining the PM’s house and the Parliament.

 

When I first started off as an entrepreneur …not such a long time back …I always asked myself…is this the kinda business that would get me rich. I tried to get into business’s that had a history of throwing up instant millionaire. (My terrible attempt to get into Real Estate). The more I looked around and read …I realized that it was possible to create a great business out of just about anything. A million dollar business that too. It could be anything that could turn you into a successful entrepreneur – from garbage management to free search.

 

The bigger point actually is why you are doing what u r doing?? What’s the motivation behind starting something new?? Secondly, how r u doing what you are doing?? If u start creating value for people ( thick , solid value) , the chances of your business doing well are very high. I have learnt through my own failed ventures that you can’t feign value(I tried very hard to do the same through my first few ventures but was caught with my pants down). Most customers are smart…especially with so much information at their finger tips. If u don’t give them something that they really perceive as a valuable service to them …the chances of outstanding success are limited.

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Sep 11
The Success Principles

The Success Principles

Im not a huge fan of Self- Help books cause I think most of them peddle the same stuff around… but i really like this book called the Success Principles from Jack Canefield.

Sep 11

 

“Why is it that your average business person has such a hard time being human? I often wonder if the sole point of business language is to de-humanize those doing business. I struggle to find another explanation.

 

“To the rest of the world, emotion is a normal, everyday, important part of life… and people who don’t get that are generally considered jerks. Only managers don’t get this.

“I’ve found that the simplest (and most powerful) competitive advantage comes from CARING. Genuinely caring about people (customers and partners) covers a multitude of other shortcomings. CARING about people is the best ‘marketing strategy’ and the best ‘management method.’ …

“The funny thing is that in such a soulless business climate, CARING is that much more competitive—and translates nicely to financial performance as well! It also translates into a much fuller and happier life …”

Sep 02

At WORK BETTER Training, the program that I absolutely love conducting is our Leadership Development workshop. In my mind, Leadership is something that makes or breaks a company. History is witness to Companies with great potential faltering because of poor Leaders and poor Leadership skills through the rank and file of the company.

 

The ultimate job of Leaders (not just the CEO, but Managers at every level) is to produce results. A Leader is as good as his cumulative results and in the modern context, as good as his last few quarters.

 

So where and why do Leaders screw up?? What are the pitfalls that could be easily avoided with slight behavioral changes? Given my constant interaction with Leaders at all levels of various companies, these in my opinion are some of the reasons why Leaders screw up. (Since knowing what not to do is sometimes more important than knowing what to do). Some of the reasons seem obvious. Some not so obvious. But all of them are relevant. Don’t just read them, feel free to disagree. Either way, try them. Experiment with them and tweak them to your Leadership context.

 

  1. Leaders cannot be Rigid

Leadership is a highly fluid concept. It is an art, not a science (irrespective of the amount of Leadership material available at bookstores). There is no standard formula. There is no one way of going about leading your business or business vertical. Every Leadership situation is unique as it involves a unique set of individuals. Hence, being rigid that things should be ‘Your way or the Highway’ is not something that works in these times. Leaders have to be flexible. If they don’t bend, they will most definitely break. Your ability to change and adapt (a little like cockroaches have) will help you evolve and survive as a Leader. Being stubborn & rigid will make you meet dinosaurian fate.  

 

  1. Leaders cannot be Insecure

If you are not comfortable in your own skin as a Leader, the process of Leadership is going to be a very painful one. I have been part of a large Fortune 100 Corporate set up and have seen extremely talented managers fail in their jobs due to their insecurities. (Insecurity Examples: Lack of Self Belief and Confidence; My subordinates may do a better job than me and make me look stupid, etc).

My suggestion to Leaders/Managers is to Up your game. Enhance your Skill Sets. Learn more. Embrace Technology. Feel, Walk & Talk like a Leader. That’s your best chance of getting rid of your insecurities and flourishing as a Leader.

 

  1. Not enough Robust Dialogue 

The only way to get the job done (the ultimate job of the Leader) is through the process of robust dialogue with your team members. The litmus test for the same: i. Do your team members feel comfortable about discussing their on-the-job screw ups with you or are they busy hiding their mistakes? ii. Do your team members feel comfortable about letting you know where YOU are screwing up as a Leader?  The key to successful businesses is people in the organization talking to each other, discussing the why’s and how’s and getting the job done without the usual “faffing” that we are so used to in companies.

 

  1. Leaders cannot Lose their Cool

Leaders need to know when to hold their emotions and when to show them. As Leaders/Managers, you cannot just react to the external environment as your heart pleases, cause trust me, the external environment is not going to be to your liking at all times. (The problems in your job are the reason your job exists). You can screw up months and years of hard work by one act of rage or uncontrolled behavior. So be more conscious of your emotions. Raise your awareness to the triggers that send you into an uncontrollable emotional tizzy. It’s more important to fight your unruly temperament than to fight your market competition.

 

 

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