It's been a year since I last posted. Somewhat intentional. For a while, I was thinking that blogging is sort of a waste of time...who actually reads them? But, since I'm now writing a book on how business must react to the transition from BabyBoomer dominated to GenX dominated, I thought this was as good a venue for capturing ideas and sharing my own so here we are.
I'm open to hearing from you in the areas of demographics, the so-called "coming labor shortage", outsourcing, global commerce and general business thinking. Please feel free to email me or simply post here. I will reply as needed.
TTFN
Greg
Sunday, July 06, 2008
Thursday, May 10, 2007
Are you Linked In?
I've been telling my students that in this era of business, many companies have very stringent Intellectual Property protections--as they should. But the ONE thing they haven't figured out how to capture is your personal network. If you are not spending some time each week (or day) building and nurturing your personal connections you are missing an important opportunity.
With that said, let me recommend LinkedIN...www.linkedin.com. I've been using it for a few years and it is a great tool for keeping track of your network of colleagues and for finding new ones. Additionally, it has some features that are not easily replicated anywhere else.
Recently, in support of my research interest in the Bottom of the Pyramid (BOP)--more on that in a future post--I posed a question in the ANSWERS forum seeking contacts or information on people doing interesting work in that area. Within 24 hours I had been contact by a dozen people around the world ALL with useful information I couldn't have collected in months. It's like asking the world a question and having the world answer you.
Basic membership is free.
Why aren't YOU linked in?
Greg
PS feel free to see my LinkedIn profile at www.linkedin.com/in/sparzo
With that said, let me recommend LinkedIN...www.linkedin.com. I've been using it for a few years and it is a great tool for keeping track of your network of colleagues and for finding new ones. Additionally, it has some features that are not easily replicated anywhere else.
Recently, in support of my research interest in the Bottom of the Pyramid (BOP)--more on that in a future post--I posed a question in the ANSWERS forum seeking contacts or information on people doing interesting work in that area. Within 24 hours I had been contact by a dozen people around the world ALL with useful information I couldn't have collected in months. It's like asking the world a question and having the world answer you.
Basic membership is free.
Why aren't YOU linked in?
Greg
PS feel free to see my LinkedIn profile at www.linkedin.com/in/sparzo
Friday, March 30, 2007
What color is YOUR ocean?
I'm writing to recommend a book that is well worth reading. It's called BLUE OCEAN STRATEGY by W. Chan Kim and Renee Mauborgne, to professors at France's INSEAD. The basic idea is that the business world is comprised of red oceans and blue oceans. Red Oceans are crowded, hyper-competitive and can only be profitable with relentless cost-cutting and disciplined execution. Blue Oceans have no real competitors and offer enormous growth potential.
One way to get to Blue Oceans is to look at NON-customers and find a way to change your offerings to attract them to become customers...Cirque du Soleil did it by blending the best of the circus with theatre; YellowTail wines attracted non-wine-drinkers to become a leading wine seller in a crowded field, Southwest did it in the airline industry.
Since all Blue Oceans eventually turn Red, it's important to spend a portion of your time continually on the alert for the next blue ocean. Are YOU?
One way to get to Blue Oceans is to look at NON-customers and find a way to change your offerings to attract them to become customers...Cirque du Soleil did it by blending the best of the circus with theatre; YellowTail wines attracted non-wine-drinkers to become a leading wine seller in a crowded field, Southwest did it in the airline industry.
Since all Blue Oceans eventually turn Red, it's important to spend a portion of your time continually on the alert for the next blue ocean. Are YOU?
Tuesday, January 30, 2007
Of Barnacles and True Friends
Some of you know that I am an Adjunct Professor at Rensselaer's MBA program in Hartford, CT. This semester I'm teaching several sections of Marketing and Product Management. Last night we talked about the link between customer loyalty and customer profitability. While the conventional wisdom is that loyal customers cost less to serve, pay higher prices and spread positive word-of-mouth the evidence points in the other direction.
Our discussions focused on 4 distinct types of customers: Butterflies (customers that flit and and out, profitable but ethereal); True Friends (the kind of customers we all want to keep); Strangers (new, unproven, untested...don't invest anything in them until they prove themselves) and my favorite name, "BARNACLES." These are the customers who often consume more resources than they're worth, picking, demanding, low margin...we all have clients/customers like this.
In my business, I try to scrape off the barnacles as soon I as can. If you're in a volume based business, like my dear friend Tom Zotter at Allstar Supply, you might put up with them to keep your volume up. Higher volumes mean lower unit costs for all your customers.
Either way, the point is, spend some time identifying what profile fits each of your customers and develop a customer-management strategy appropriate to each group. Call me if you want to talk about it.
GMS
Our discussions focused on 4 distinct types of customers: Butterflies (customers that flit and and out, profitable but ethereal); True Friends (the kind of customers we all want to keep); Strangers (new, unproven, untested...don't invest anything in them until they prove themselves) and my favorite name, "BARNACLES." These are the customers who often consume more resources than they're worth, picking, demanding, low margin...we all have clients/customers like this.
In my business, I try to scrape off the barnacles as soon I as can. If you're in a volume based business, like my dear friend Tom Zotter at Allstar Supply, you might put up with them to keep your volume up. Higher volumes mean lower unit costs for all your customers.
Either way, the point is, spend some time identifying what profile fits each of your customers and develop a customer-management strategy appropriate to each group. Call me if you want to talk about it.
GMS
Tuesday, December 26, 2006
Happy New Year
I'd like to wish all our clients a happy, healthy and prosperous New Year. 2006 certainly flew by and I suspect 2007 won't be any slower. Take a few moments this week to reflect on the successes and challenges of this year and how you will take action to impact 2007 for the better. Also, be sure to take some time to enjoy friends, family, health and home...Afterall, that's what we work for.
Best Regards,
GMS
Best Regards,
GMS
Monday, November 13, 2006
US Edge is Slipping.
As a nation we are losing our edge in science and technology. From my perspective as a business school professor (in an MBA program) I think we're also losing our edge in simple communication skills like writing and speaking.
Many organizations and institutions are calling for more "basic training" in things like math and science. A recent article in CEO Magazine suggests that young people need to have a more international perspective. I agree.
When I was a graduate business student in the late '80s my class mates were primarily "white guys" will similar backgrounds. Today, my students are men and women; black, brown, white, asian; straight, gay; left, right; and whatever other catagory you choose to name. That diversity tells the story of today's business needs--to remain competitive we need people who have critical thinking skills, communications skills, LANGUAGE SKILLS and the the ability to add value regardless of the surrounds.
Are you thinking globally? If not, please know your competitors are.
GMS
Many organizations and institutions are calling for more "basic training" in things like math and science. A recent article in CEO Magazine suggests that young people need to have a more international perspective. I agree.
When I was a graduate business student in the late '80s my class mates were primarily "white guys" will similar backgrounds. Today, my students are men and women; black, brown, white, asian; straight, gay; left, right; and whatever other catagory you choose to name. That diversity tells the story of today's business needs--to remain competitive we need people who have critical thinking skills, communications skills, LANGUAGE SKILLS and the the ability to add value regardless of the surrounds.
Are you thinking globally? If not, please know your competitors are.
GMS
Wednesday, October 25, 2006
Heroes are in Short Supply
In August I wrote about the difficulties in finding QUALITY employees. With unemployment rates hovering around what we used to call "full employment" it's difficult to find the kind of talent that can change the balance of power in your industry.
Today, the DOW closed at another record high, over 12,000. The economy remains strong. I recently wrote a white paper talking about how employee turnover, especially in the sales area, increases during prosperous times. (Send me an email, and I'll send you a copy.) With turnover approaching 40% in sales forces, you cannot afford to wait, nor can you afford to hire badly...it's expensive.
The way around this problem is to CODIFY and DOCUMENT your sales process so that "mere mortals" can be productive and effective. Heroes are hard to come by and expensive.
Think about how you might capture the "best practices" of your best sales people and document your sales process in a way that leverages that experience.
Today, the DOW closed at another record high, over 12,000. The economy remains strong. I recently wrote a white paper talking about how employee turnover, especially in the sales area, increases during prosperous times. (Send me an email, and I'll send you a copy.) With turnover approaching 40% in sales forces, you cannot afford to wait, nor can you afford to hire badly...it's expensive.
The way around this problem is to CODIFY and DOCUMENT your sales process so that "mere mortals" can be productive and effective. Heroes are hard to come by and expensive.
Think about how you might capture the "best practices" of your best sales people and document your sales process in a way that leverages that experience.
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