Small business owners are usually skeptical of “branding” as a marketing strategy. After all, most small businesses don’t have the seven-figure marketing budget that is necessary to pursue branding in the same way that big businesses like Coca-Cola or Apple can.
I have written quite a bit about the importance of employee engagement. Employees who are engaged and motivated are more productive, more effective, and offer better customer service – This translates into greater profitability for the company.
“You cannot stay comfortable and reach your full potential.”
These words come from an excellent TED Talk by Peter Bregman. Bregman hits on a core truth—namely, that if you want to grow you must be challenged. And I believe that, particularly in business but also in life, staying “open” to challenging concepts and ideas requires a consistent and deliberate effort.
There’s a lot that goes into running a successful business. And successful businesses come in every shape and size. But one thing that most long-lasting, consistently profitable businesses have in common is that they are NOT dependent on the physical presence of their owner day in and day out.
You paid good money to have a sharp, modern website that is guaranteed to impress even the most discerning visitor. But is anyone actually going to your site? How many visitors are you receiving? How did they find out about your site? If you can’t answer these questions, it’s time to venture into the world of website metrics.
Bill Belichick, the head coach of the New England Patriots, is considered by many fans, players, and sports media figures to be the best coach in the NFL today. In addition to winning three Super Bowls in the last decade, and appearing in a fourth, Belichick has also been named the NFL coach of the year three times, in 2003, 2007 and 2010. As we speak, the Patriots are on their way to yet another playoff run.
The NFL kicked off again this month. Many of us are devoted football fans, but for business owners, the NFL provides more than just entertainment. In fact, there are many lessons that business owners and managers can learn by paying attention to the action each Sunday.
It’s important to learn to think outside box – especially when it comes to marketing. The marketplace can be so overcrowded that it takes an innovative or unusual approach to catch the attention of your audience.
Most business owners have encountered a “traditional” business plan at some point, perhaps in school, with a previous employer or in their own business. And while a traditional business plan can be helpful in certain situations, in my experience such a business plan is a colossal waste of time for a small business.
Most people would assume that every business owner is intimately familiar with his competition. From the outside looking in, competition appears to be what business is all about.
But as a business owner, it is surprisingly easy to lose track of the competition.