Don’t Be Fuzzy about Your Why
What motivates you, your team, and your customers?
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
Have you ever had one of those days when ask yourself, “Why am I doing this?” We all have. I was out with a few buddies recently for one of those Cocktail and Cigar nights, and one of them asked that question. He was feeling especially unappreciated and was questioning just about everything about his business.
Our discussion really got me wondering how business owners and managers maintain their enthusiasm after they’ve been at it for several years. How do they motivate their team when they’ve lost their own passion?
A longtime believer in goal-setting, I decided to do some personal evaluation to consider what motivates me and the Brand Acceleration team. The approach was to take a hard look at everything and everyone and ask “Why?”
Why are we in business?
Businesses are started for a number of reasons. Some people just want to be their own boss, some dislike their present situation, and some think they’re going to get rich. Some start a company to create their own job; a very dumb move. Successful entrepreneurs start a business because they have a passion and talent for their chosen profession, and because they want to be the best at what they do. Then there are those businesses which are started by people who have a passion for providing outstanding customer service.
At Brand Acceleration, our approach was to go to an offsite location where we could do some serious self evaluation and long-term corporate visioning. We asked ourselves questions such as, “What is our purpose?”, “What do we want the company to look like in three, five, or ten years?”, and “What excites us?”
Why do you do what you do?
Several years ago, in a previous career, I owned a company that owned and managed conferences, trade shows, and promotional events. We also designed and produced very high-end trade show exhibits and provided effectiveness training for booth workers. When I first started the company, I was on the front line, managing every detail and doing much of the work. I negotiated venue contracts, handle all event promotions, and even designed exhibits. I loved every minute of it. We specialized in events for the agricultural industry and enjoyed huge success and rapid growth. We worked with clients such as John Deere, Monsanto, Dow AgroSciences, and numerous other well known ag companies.
As the company grew, so did my duties as the company owner. Rather than personally managing the events, I was now dealing with mundane tasks such as employee issues, insurance, taxes, and other motivation killers. Any business owner or manager will tell you that you need to have a plan in place to make the transition from startup to an established, functioning organization. You’ll need to surround yourself with talented people who will handle the work you just don’t want to do. Doing so will free you up to do what you love and to focus on growing your business. As selfish as it sounds, one of your very important responsibilities is to maintain your personal satisfaction and happiness. The alternative is unthinkable. An unhappy boss leads to a miserable workplace and a company headed for trouble.
Why do employees and vendors stay or leave?
Isn’t it interesting how many people are working in a job or industry that is completely different than they had envisioned for themselves while in college? How about you? Are you doing what you had planned? Are you doing what you want to do? Many are working in jobs not because they love them but out of necessity. Unfortunately, it’s very difficult for them to be happy and motivated in jobs they’d really rather not be in. We look for employees and vendors who are living their dream, doing what they love, and motivated to do great work. Bad attitudes and overinflated egos just don’t fit into our structure.
One of our clients recently asked each of their employees to write a job description and personal evaluation. They were also asked to make a list of their duties and whether they like or dislike each, and why. The exercise helped to identify satisfaction or dissatisfaction points and to reassign some tasks to people who were better suited. The result is a happier, more cohesive, and motivated team. What an outstanding idea!
Why do customers stay or go?
Customers stay or go for many reasons. Of course, if you provide outstanding delivery of products or services, customers are much more likely to love you and refer you to others. What sometimes happens is that companies become complacent and take their clients for granted. The result is that customers begin feeling unloved and leave.
Working in the economic development industry, we know that most communities place a major emphasis on keeping existing employers happily in place. Recently, I chatted with a company manager who told me that he hadn’t spoken to his county economic developer in years, but when the company announced plans to cut staff, the guy showed up to ask what could be done to save the jobs. Too little – too late.
At Brand Acceleration, we work to be much more than just a vendor to our clients. We serve as part of their organization, providing genuine and knowledgeable counsel. Our attitude is that their business is our business. The relationship deepens and they become more than just clients. They’re like family. Without such connections, clients are much more likely to see you as replaceable. Not a good thing.
A serious evaluation may be in order for you, your team, and your overall organization. It may be time for owners, managers, employees, or even community elected officials to ask the question, Why? It may be the most important thing you can do for your future.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
Sunday, January 16, 2011
Saturday, January 1, 2011
Jump Start Your Resolutions
The first thirty days are crucial to your success
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
With the holidays behind us and all the gifts opened, it’s time to drag out that list of New Year’s resolutions for a quick review. Right at the top of the list are the usual items such as weight loss, financial management, etc. Many companies and communities also write a list of resolutions. It’s often more of a wish list. At Brand Acceleration, we’re often part of the list development process, helping to develop strategic plans and tools required to carry them out. Such a list might look something like this:
Develop a Strategic Plan
With the economy showing signs of recovery, now is the time to take a big-picture look at your future. Are you content with your brand position or is it time to examine who you are in comparison with your long-range vision?
Now is the time to develop long-range brand strategies that are focused on a BHAG. A Big Hairy Audacious Goal, according to the 1996 article entitled Building Your Company's Vision (James Collins and Jerry Porras) is "an audacious 10-30 year goal to progress toward an envisioned future." Shorter term, what are your plans for 2011?
Is your Web Site more than Two Years Old?
It's hard to believe that web sites outdate that quickly, isn't it? But, when you consider the many changes that have likely taken place at your company or community, coupled with the massive technological changes, your site may be outdated. All those new apps and remote devices like iPhones and iPads also play an important role in the functionality of your web site.
Brochures: Sometimes They Just Get Outdated
Take a look in your supply closet. What do you see? Are your brochures fresh, contemporary and consistent in their appearance or are they fragmented and dated? Sometimes it just makes sense to throw out the old materials that still show the young lady with the 80's hair style and replace them with pieces that will position your organization as one that is poised for the future. Often, these tools are responsible for making the all-too-important "first impression."
Pride Campaign – Internal Branding
Among your best advocates are those people who live in your community or work for your company. A well thought out internal communication program can not only inform your constituents about your activities, it can develop a positive emotional connection that can pay dividends. Simply put, you want your team to be with you, not against you. I’ve seen great plans struggle because the troops were not committed.
Target Marketing is Powerful Marketing
In these days of tight budgets and very demanding bosses, many organizations are opting for highly-targeted direct marketing efforts, reaching out to clearly defined and qualified audiences. Whether direct mail or e-mail marketing, messages are crafted to resonate, based on a clear understanding of audience expectations.
Maybe it’s Time for a Fresh, New Logo
Every now and then, even the largest and most respected companies change or refresh their logo. Simply put, the old one gets outdated. Times change and so should companies and communities. Doing so demonstrates that you are a cutting edge organization which is positioned for the future rather than living in the past.
Meetings, Retreats, Mission Trips, and Trade Shows
Even with all of the advertising and other marketing communication tools, there is nothing like getting face-to-face with clients or prospects. Our clients often add scheduled meetings, retreats, and mission trips to their wish list. A carefully planned visit to a target city or country can go a long way toward building fruitful relationships that can boost business. In conjunction with trade shows or conferences, such efforts can be amazingly effective. Powerful trade show marketing is far more than just popping up an exhibit and sitting behind a table.
Done Right, Media Advertising Still Works
“We tried advertising once and it just didn’t work.” I hear this all the time. “What do you mean when you say it didn’t work,” I ask. “We didn’t get any calls,” is often the answer.
This is clearly a case of unrealistic expectations. Anyone who runs an ad and waits for the phone to ring is living in a fantasy land. Sure, it happens, but the reality is that media advertising is better suited as a brand building effort that positions a company or community for future activity. In a nutshell, if the prospect knows you and has a positive opinion of you, you’re much more likely to get a shot at their business when the need arises.
My Wish for You
After a couple of very challenging years, it’s finally beginning to look as if we’re in an economic recovery. Whatever is on your list, my wish for you is that 2011 is a year of success and abundance. If we can ever be of assistance, I hope you’ll give me a call. We’d be honored to be part of your team. Now is the time to get started.
Make the first thirty days count.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
The first thirty days are crucial to your success
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
With the holidays behind us and all the gifts opened, it’s time to drag out that list of New Year’s resolutions for a quick review. Right at the top of the list are the usual items such as weight loss, financial management, etc. Many companies and communities also write a list of resolutions. It’s often more of a wish list. At Brand Acceleration, we’re often part of the list development process, helping to develop strategic plans and tools required to carry them out. Such a list might look something like this:
Develop a Strategic Plan
With the economy showing signs of recovery, now is the time to take a big-picture look at your future. Are you content with your brand position or is it time to examine who you are in comparison with your long-range vision?
Now is the time to develop long-range brand strategies that are focused on a BHAG. A Big Hairy Audacious Goal, according to the 1996 article entitled Building Your Company's Vision (James Collins and Jerry Porras) is "an audacious 10-30 year goal to progress toward an envisioned future." Shorter term, what are your plans for 2011?
Is your Web Site more than Two Years Old?
It's hard to believe that web sites outdate that quickly, isn't it? But, when you consider the many changes that have likely taken place at your company or community, coupled with the massive technological changes, your site may be outdated. All those new apps and remote devices like iPhones and iPads also play an important role in the functionality of your web site.
Brochures: Sometimes They Just Get Outdated
Take a look in your supply closet. What do you see? Are your brochures fresh, contemporary and consistent in their appearance or are they fragmented and dated? Sometimes it just makes sense to throw out the old materials that still show the young lady with the 80's hair style and replace them with pieces that will position your organization as one that is poised for the future. Often, these tools are responsible for making the all-too-important "first impression."
Pride Campaign – Internal Branding
Among your best advocates are those people who live in your community or work for your company. A well thought out internal communication program can not only inform your constituents about your activities, it can develop a positive emotional connection that can pay dividends. Simply put, you want your team to be with you, not against you. I’ve seen great plans struggle because the troops were not committed.
Target Marketing is Powerful Marketing
In these days of tight budgets and very demanding bosses, many organizations are opting for highly-targeted direct marketing efforts, reaching out to clearly defined and qualified audiences. Whether direct mail or e-mail marketing, messages are crafted to resonate, based on a clear understanding of audience expectations.
Maybe it’s Time for a Fresh, New Logo
Every now and then, even the largest and most respected companies change or refresh their logo. Simply put, the old one gets outdated. Times change and so should companies and communities. Doing so demonstrates that you are a cutting edge organization which is positioned for the future rather than living in the past.
Meetings, Retreats, Mission Trips, and Trade Shows
Even with all of the advertising and other marketing communication tools, there is nothing like getting face-to-face with clients or prospects. Our clients often add scheduled meetings, retreats, and mission trips to their wish list. A carefully planned visit to a target city or country can go a long way toward building fruitful relationships that can boost business. In conjunction with trade shows or conferences, such efforts can be amazingly effective. Powerful trade show marketing is far more than just popping up an exhibit and sitting behind a table.
Done Right, Media Advertising Still Works
“We tried advertising once and it just didn’t work.” I hear this all the time. “What do you mean when you say it didn’t work,” I ask. “We didn’t get any calls,” is often the answer.
This is clearly a case of unrealistic expectations. Anyone who runs an ad and waits for the phone to ring is living in a fantasy land. Sure, it happens, but the reality is that media advertising is better suited as a brand building effort that positions a company or community for future activity. In a nutshell, if the prospect knows you and has a positive opinion of you, you’re much more likely to get a shot at their business when the need arises.
My Wish for You
After a couple of very challenging years, it’s finally beginning to look as if we’re in an economic recovery. Whatever is on your list, my wish for you is that 2011 is a year of success and abundance. If we can ever be of assistance, I hope you’ll give me a call. We’d be honored to be part of your team. Now is the time to get started.
Make the first thirty days count.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
Saturday, December 4, 2010
The Fast Track to Brand Destruction
Make it all about you and your customers will walk
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
Early in my career, I worked as the advertising manager for a global manufacturer of agricultural machinery. It was a great period in my life and I thoroughly enjoyed working with the farmers and ranchers who feed the world. As part of my job, I attended numerous trade shows and conventions where I observed the business style of companies such as John Deere, Pioneer and Monsanto. Most are masters who passionately live and protect their long-earned brand positions. There were others though, which amazed the industry with their arrogance and stupidity. One in particular, which I will not name, stands out in my memory.
We are…
Founded in the 1950’s, this company was the dream of a man with a unique idea, a passion for customer service and a huge heart. Like the proverbial “better mousetrap,” his product was a piece of tillage equipment which did a much better job of turning soil than most competitive products. That wasn’t the whole story, though. This man was a brilliant marketer and cheerleader. His sales and customer service team, calling on farm machinery dealers, was trained not only on the features and benefits of the product; they were also taught his artful style of growing relationships.
Dealers and farmers were not just customers to him, they were friends who were honored and cherished. The product price, a bit higher than competitors, was never an issue. Quality, customer service and the company’s stellar brand image made it the product to own.
The company team, including sales people, engineers, factory workers and customer service folks, was taught that “we” included everyone who touched the product, including the dealers and customers. The message was that “We’re all in this together.” The company’s advertising and brochures were brilliantly conceived. Not only did they effectively tell the product story, they almost always included images of the farmer, dealer and company representative, strongly supporting the service and support message.
Over the years, the company grew and its brand was the envy of the tillage equipment industry.
I am…
In the late 1970’s, something changed. On one fateful day, the founder and owner suffered a fatal heart attack while working at his desk. Although his leadership had been skillfully conceived and executed, he had made one very serious mistake. He thought he would live forever and failed to develop a transition plan that would protect his company and legacy. As a result, the company was suddenly under the control of his young inexperienced son, a thirty-something playboy who loved to party and enjoy his father’s financial success. His personal reputation was as a spoiled and arrogant brat.
In an attempt to shore up industry confidence, Junior (he really was a Junior) hit the road, attending every trade show and conference in order to reassure farmers and dealers that all was well because he was in charge. However, his flamboyant lifestyle and big ego did not play well. He was nothing like his father and he quickly showed that he loved to be the center of attention rather than directing attention to the entire team and their loyal customers.
In a poorly-conceived move, he directed their ad agency to produce a series of magazine ads featuring his photo. His goal was to transfer his father’s personal brand to himself and to show customers that the family was still at the helm. In his photo, he was dressed in a three-piece suit and groomed to the hilt. He looked nothing like his customers who were people of the soil; hard-working and modest. Customers immediately began making comparisons. “He’s sure not like his Dad.” The agency had warned him that this was a bad move. They suggested that reassurance would come from ads that showed a continuation of the values and customer service they had come to expect.
Like this agency, the Brand Acceleration team works alongside our clients, carefully considering how each move will affect their brand. The key is to not only consider what our client has to offer but to carefully craft a message that reflects the desires of the audience. Like the ads featuring Junior, if the message is not believable, the brand will be harmed. In these days of iPads, social media and clever web sites, it’s very easy to lose sight of audience expectations, focusing instead on the beautiful package rather than the all-important content.
Over the course of three years, Junior made a series of desperate errors, from poor product direction and downgrades in quality to several deadly financial moves. At the end of it all, he eventually sold the struggling company to a large conglomerate which was on a spree, buying up weakened companies like his. Junior still managed to walkway a millionaire but his father’s dream was over. The factory was shut down and the production of products was moved to another state. Over two hundred people lost their jobs and the small community was severely harmed for several years to come.
What’s the point?
What Junior was never taught was that even though his family’s name was on the letterhead, it was not the family that made it great. It was his father’s overwhelming passion for conveying a vision of excellence through his team and to the customers. That was the fuel that grew it from a dream to a raging success.
It’s not about you!
Through good times and bad, company owners and managers must remember that their success is not about them. Their only chance for long-term success and survival is through a gut-wrenching, agonizing, passionate focus on the one thing that makes a company great, customers!
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
Make it all about you and your customers will walk
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
Early in my career, I worked as the advertising manager for a global manufacturer of agricultural machinery. It was a great period in my life and I thoroughly enjoyed working with the farmers and ranchers who feed the world. As part of my job, I attended numerous trade shows and conventions where I observed the business style of companies such as John Deere, Pioneer and Monsanto. Most are masters who passionately live and protect their long-earned brand positions. There were others though, which amazed the industry with their arrogance and stupidity. One in particular, which I will not name, stands out in my memory.
We are…
Founded in the 1950’s, this company was the dream of a man with a unique idea, a passion for customer service and a huge heart. Like the proverbial “better mousetrap,” his product was a piece of tillage equipment which did a much better job of turning soil than most competitive products. That wasn’t the whole story, though. This man was a brilliant marketer and cheerleader. His sales and customer service team, calling on farm machinery dealers, was trained not only on the features and benefits of the product; they were also taught his artful style of growing relationships.
Dealers and farmers were not just customers to him, they were friends who were honored and cherished. The product price, a bit higher than competitors, was never an issue. Quality, customer service and the company’s stellar brand image made it the product to own.
The company team, including sales people, engineers, factory workers and customer service folks, was taught that “we” included everyone who touched the product, including the dealers and customers. The message was that “We’re all in this together.” The company’s advertising and brochures were brilliantly conceived. Not only did they effectively tell the product story, they almost always included images of the farmer, dealer and company representative, strongly supporting the service and support message.
Over the years, the company grew and its brand was the envy of the tillage equipment industry.
I am…
In the late 1970’s, something changed. On one fateful day, the founder and owner suffered a fatal heart attack while working at his desk. Although his leadership had been skillfully conceived and executed, he had made one very serious mistake. He thought he would live forever and failed to develop a transition plan that would protect his company and legacy. As a result, the company was suddenly under the control of his young inexperienced son, a thirty-something playboy who loved to party and enjoy his father’s financial success. His personal reputation was as a spoiled and arrogant brat.
In an attempt to shore up industry confidence, Junior (he really was a Junior) hit the road, attending every trade show and conference in order to reassure farmers and dealers that all was well because he was in charge. However, his flamboyant lifestyle and big ego did not play well. He was nothing like his father and he quickly showed that he loved to be the center of attention rather than directing attention to the entire team and their loyal customers.
In a poorly-conceived move, he directed their ad agency to produce a series of magazine ads featuring his photo. His goal was to transfer his father’s personal brand to himself and to show customers that the family was still at the helm. In his photo, he was dressed in a three-piece suit and groomed to the hilt. He looked nothing like his customers who were people of the soil; hard-working and modest. Customers immediately began making comparisons. “He’s sure not like his Dad.” The agency had warned him that this was a bad move. They suggested that reassurance would come from ads that showed a continuation of the values and customer service they had come to expect.
Like this agency, the Brand Acceleration team works alongside our clients, carefully considering how each move will affect their brand. The key is to not only consider what our client has to offer but to carefully craft a message that reflects the desires of the audience. Like the ads featuring Junior, if the message is not believable, the brand will be harmed. In these days of iPads, social media and clever web sites, it’s very easy to lose sight of audience expectations, focusing instead on the beautiful package rather than the all-important content.
Over the course of three years, Junior made a series of desperate errors, from poor product direction and downgrades in quality to several deadly financial moves. At the end of it all, he eventually sold the struggling company to a large conglomerate which was on a spree, buying up weakened companies like his. Junior still managed to walkway a millionaire but his father’s dream was over. The factory was shut down and the production of products was moved to another state. Over two hundred people lost their jobs and the small community was severely harmed for several years to come.
What’s the point?
What Junior was never taught was that even though his family’s name was on the letterhead, it was not the family that made it great. It was his father’s overwhelming passion for conveying a vision of excellence through his team and to the customers. That was the fuel that grew it from a dream to a raging success.
It’s not about you!
Through good times and bad, company owners and managers must remember that their success is not about them. Their only chance for long-term success and survival is through a gut-wrenching, agonizing, passionate focus on the one thing that makes a company great, customers!
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
Monday, November 22, 2010
The Lost Art of Appreciation
A simple “thank you” makes all the difference
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
As we approach Thanksgiving 2010, I can’t help but consider the many people whom have played an important part in what has been a very good year for me and Brand Acceleration. Like most of us though, I am often lax when it comes to expressing my appreciation.
As parents, we teach our children to always say “please,” “thank you” and “you’re welcome,” but I sometimes think we do a poor job of teaching them to truly understand and appreciate the importance of others.
When I was a child, it was very common for people to write thank-you cards and notes whenever someone did something nice. Of course, that was a time when letter writing was the norm. I remember watching my mother sit down to write letters to her friends and family members. It gave her and them great joy. Today, things are quite different. In the fast-paced, 140 character society in which we live, we’ve eliminated many of these formalities. A heart-felt thank-you letter has given way to a text or FaceBook message saying, simply, “THX.”
None of us succeeds in business or life entirely of our own doing. We get ahead as a team, not as individuals. In my life, I can easily identify the sources of my joy, and I am so grateful for what has been a wonderful year. To our employees, customers, families, vendors and many friends, I say thank you.
You are my blessings.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
A simple “thank you” makes all the difference
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
As we approach Thanksgiving 2010, I can’t help but consider the many people whom have played an important part in what has been a very good year for me and Brand Acceleration. Like most of us though, I am often lax when it comes to expressing my appreciation.
As parents, we teach our children to always say “please,” “thank you” and “you’re welcome,” but I sometimes think we do a poor job of teaching them to truly understand and appreciate the importance of others.
When I was a child, it was very common for people to write thank-you cards and notes whenever someone did something nice. Of course, that was a time when letter writing was the norm. I remember watching my mother sit down to write letters to her friends and family members. It gave her and them great joy. Today, things are quite different. In the fast-paced, 140 character society in which we live, we’ve eliminated many of these formalities. A heart-felt thank-you letter has given way to a text or FaceBook message saying, simply, “THX.”
None of us succeeds in business or life entirely of our own doing. We get ahead as a team, not as individuals. In my life, I can easily identify the sources of my joy, and I am so grateful for what has been a wonderful year. To our employees, customers, families, vendors and many friends, I say thank you.
You are my blessings.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction and real estate.
Monday, November 8, 2010
How Badly Do You Want Success?
Are you fully committed?
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
I recently had lunch with a young man who wanted advice about starting a business. He’s a very talented individual with a great work ethic. He has a job working for someone else but his long-time dream is to be self employed. Many have that same dream but few really understand what goes into starting and growing a business.
As a business owner, I am often approached for such advice. I’ve started, stopped, bought, and sold several companies. I’ve been self employed nearly half my career. I guess you could call me a habitual entrepreneur. It’s just in my blood and I love the process of creating and growing a business. I’ve made many mistakes and learned countless lessons along the way.
For the sake of clarity, when I talk about self employment, I am not referring to freelancing or projects taken on to fill a financial void while searching for a job. I’m talking about a real company – full-time self employment.
Today’s challenging economy has spat a large number of very talented people onto the job market and many have considered self employment as the next step in the career path. Before starting a business, there are several questions that must be answered. Only by clearly understanding where you stand on each should you move into the world of self employment.
Why do you want to be self employed?
People start companies for several reasons but the most common is the need for a job. Big mistake! Most new companies require at least 1 ½ to 2 years to become self-sustaining. If all the owner desires is a job, he or she had better have the patience, hustle, and resources to ride out this crucial startup period.
How far are you willing to bend?
There will be times, whether you’re self employed or work for someone else, when you will have to work with people you simply don’t like. As a business owner, you have the ability to decide which employees, vendors, and clients to allow into your circle.
We once had a series of meetings with a construction industry supply company which had expressed an interest in signing Brand Acceleration as its marketing communications agency. The discussions went well until the third meeting. As is often the case, when you allow someone to speak long enough, their true personality will eventually be revealed. At that point in time, the company owner/president became belligerent, not only with us but with virtually every one of his staffers. Now, we’ve worked with difficult people before but this guy was rude, condescending, and just downright abusive to every person in the room.
When I started Brand Acceleration, I vowed to myself that I would not work with any person I didn’t like, nor would I ask anyone on my team to work with such a person. At the end of that meeting, I politely declined the business, telling the owner that it just didn’t appear to be a good fit for us. As a business owner, you need to know how far you’re willing to be pushed, even if you desperately need the business.
Are you up to managing the details?
Companies often fail because they outgrow the ability of the owner to manage the details of running a business. For example, many restaurants are started by people who consider themselves great cooks, just to die because the owner is overwhelmed by the minutia of running a business. Staffing, accounting, taxes, insurance, leasing, equipment, and other details are more than some people can handle. At some point in time, it stops being fun and the business shuts down. If you’re not up to the daily grind of business ownership, don’t jump in. You’ll regret it.
Have a passion for excellence
As a business grows, the owner needs to remain committed to providing excellent products and/or service. You must be able to do this while managing the details and growing the company. The moment you turn your back on your clients and begin cutting corners, you’re doomed to fail.
Surround yourself with great people
Over the years, my most trusted mentors, some former employers, taught me to surround myself with great people and then get out of their way. This applies not only to employees but also to suppliers and vendors. I’ve found that they make me and my company look great by providing excellent deliverables to our clients. It’s also important to swiftly remove underperformers. Regardless of how great the team is, your customers will remember the poor service resulting from the actions of the one person who dropped the ball. As the business owner, you must build, monitor, and make changes in order to protect your company brand.
Always offer and demand loyalty
The glue that holds the Brand Acceleration team together is the loyalty and caring that we share for one another. Our clients, employees, and vendors are our friends, too. We care for one another and function much as a family.
How badly do you want success?
One of the biggest things that budding business owners fail to consider is the amount of work they’ll have to do. The idea that self employment means you won’t have to work as hard is pure fantasy. You’ll work harder than you’ve ever worked in your life. As a business owner, you can forget the concept of a 40-hour work week. Sixty or eighty hours may be more realistic, especially during the startup phase. You’re going to live and breathe that business during your every waking moment.
I recently saw a YouTube video of Mr. Eric Thomas, Advantage Director at Michigan State University. In his Secrets of Success video series, he asks the question, “How bad do you want your dream?” In it, he dramatically demonstrates the importance of the passion, desire, and commitment required to succeed at anything, including self employment. This is one of several of his speeches on YouTube.
Are you fully committed?
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
I recently had lunch with a young man who wanted advice about starting a business. He’s a very talented individual with a great work ethic. He has a job working for someone else but his long-time dream is to be self employed. Many have that same dream but few really understand what goes into starting and growing a business.
As a business owner, I am often approached for such advice. I’ve started, stopped, bought, and sold several companies. I’ve been self employed nearly half my career. I guess you could call me a habitual entrepreneur. It’s just in my blood and I love the process of creating and growing a business. I’ve made many mistakes and learned countless lessons along the way.
For the sake of clarity, when I talk about self employment, I am not referring to freelancing or projects taken on to fill a financial void while searching for a job. I’m talking about a real company – full-time self employment.
Today’s challenging economy has spat a large number of very talented people onto the job market and many have considered self employment as the next step in the career path. Before starting a business, there are several questions that must be answered. Only by clearly understanding where you stand on each should you move into the world of self employment.
Why do you want to be self employed?
People start companies for several reasons but the most common is the need for a job. Big mistake! Most new companies require at least 1 ½ to 2 years to become self-sustaining. If all the owner desires is a job, he or she had better have the patience, hustle, and resources to ride out this crucial startup period.
How far are you willing to bend?
There will be times, whether you’re self employed or work for someone else, when you will have to work with people you simply don’t like. As a business owner, you have the ability to decide which employees, vendors, and clients to allow into your circle.
We once had a series of meetings with a construction industry supply company which had expressed an interest in signing Brand Acceleration as its marketing communications agency. The discussions went well until the third meeting. As is often the case, when you allow someone to speak long enough, their true personality will eventually be revealed. At that point in time, the company owner/president became belligerent, not only with us but with virtually every one of his staffers. Now, we’ve worked with difficult people before but this guy was rude, condescending, and just downright abusive to every person in the room.
When I started Brand Acceleration, I vowed to myself that I would not work with any person I didn’t like, nor would I ask anyone on my team to work with such a person. At the end of that meeting, I politely declined the business, telling the owner that it just didn’t appear to be a good fit for us. As a business owner, you need to know how far you’re willing to be pushed, even if you desperately need the business.
Are you up to managing the details?
Companies often fail because they outgrow the ability of the owner to manage the details of running a business. For example, many restaurants are started by people who consider themselves great cooks, just to die because the owner is overwhelmed by the minutia of running a business. Staffing, accounting, taxes, insurance, leasing, equipment, and other details are more than some people can handle. At some point in time, it stops being fun and the business shuts down. If you’re not up to the daily grind of business ownership, don’t jump in. You’ll regret it.
Have a passion for excellence
As a business grows, the owner needs to remain committed to providing excellent products and/or service. You must be able to do this while managing the details and growing the company. The moment you turn your back on your clients and begin cutting corners, you’re doomed to fail.
Surround yourself with great people
Over the years, my most trusted mentors, some former employers, taught me to surround myself with great people and then get out of their way. This applies not only to employees but also to suppliers and vendors. I’ve found that they make me and my company look great by providing excellent deliverables to our clients. It’s also important to swiftly remove underperformers. Regardless of how great the team is, your customers will remember the poor service resulting from the actions of the one person who dropped the ball. As the business owner, you must build, monitor, and make changes in order to protect your company brand.
Always offer and demand loyalty
The glue that holds the Brand Acceleration team together is the loyalty and caring that we share for one another. Our clients, employees, and vendors are our friends, too. We care for one another and function much as a family.
How badly do you want success?
One of the biggest things that budding business owners fail to consider is the amount of work they’ll have to do. The idea that self employment means you won’t have to work as hard is pure fantasy. You’ll work harder than you’ve ever worked in your life. As a business owner, you can forget the concept of a 40-hour work week. Sixty or eighty hours may be more realistic, especially during the startup phase. You’re going to live and breathe that business during your every waking moment.
I recently saw a YouTube video of Mr. Eric Thomas, Advantage Director at Michigan State University. In his Secrets of Success video series, he asks the question, “How bad do you want your dream?” In it, he dramatically demonstrates the importance of the passion, desire, and commitment required to succeed at anything, including self employment. This is one of several of his speeches on YouTube.
Click here to take a look.
To my young friend, here’s what I said: If, after considering these very serious questions, you still have a burning desire to start your own company, then you may just have what it takes to succeed. Develop a well written business plan, establish a team of advisors, get your financing together, and then go for it.
I wish you much success and personal satisfaction.
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction, real estate and motorsports.
Saturday, October 23, 2010
We Don’t Need a Babysitter
Americans are demanding a new approach
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
When I was a child, my brother and I were thrilled at the idea that our mom and dad would go out and leave us at home without a babysitter. “We’ll be okay,” we would say, “We can take care of ourselves.” Part of the maturing process is a desire for independence, a chance to grow, stretch, and show what we can accomplish when given a chance.
As a parent, I remember doing everything possible to teach my daughter to be independent, to grow and take measured risks. Today, she is one of the most mature and independent young individuals I know. While she works well with others, she is also willing to step up, take the lead and be responsible for the outcome.
As we approach a very important election, it’s interesting to watch politicians and constituents wrestle with the “What are you going to do for me?” mentality. At a time when federal government spending and the national debt have grown far beyond sustainability, it seems the American people are beginning to realize that spending cuts are inevitable. They are absolutely necessary for survival. The challenge is deciding what to cut.
A dependent class
Over the decades, many have become dependent on the government to take care of them. As a result, there seems to be an inability (or unwillingness) to make even the most basic decisions without first consulting the government (law) to determine how or if something can or can’t be done. We’ve become a paralyzed and dependent class.
I recently saw a news story about an experiment that was conducted to see how people would react to an injured person in a public place. A man pretended to be injured in a railroad station, stretched out lifelessly on the platform to see how other passengers would react. Countless people walked by, looked at him, and then walked away. No one offered help. Why?
When they were asked why they did nothing, several reasons were cited. First, most people thought the railroad officials would call for help. Next, they thought it was a police issue – none of their business. Many were afraid of the liability if their actions were wrong. Finally, a few said they just didn’t have the time. The point is that we’ve become a dependent class, afraid of taking even the most basic responsibility to help ourselves or others. We expect someone else to handle just about everything.
The times, they are a changin’
Today, with a lingering recession and a federal debt that has spiraled out of control, even the dependent class has begun demanding that the federal government go on a diet. They’re saying it’s time for them to back off and stop spending money we don’t have. For the first time since the 1920’s, Americans are demanding that the federal budget be reduced, dramatically. The difficult part though, is that we’ll need to take more personal responsibility. For example, we’ll need to be smart enough to get a flu shot and cover our mouths when we cough without waiting to hear a government funded ad telling us to do so. Duh!
Just as many families, due to a job loss, have had to learn to live without restaurant dining, vacations, expanded cable television service and other luxuries, our bloated federal government is being told by voters that it, too, will have to cut back.
How will we survive?
Like an addict who struggles to break an addiction to alcohol or drugs, Americans are indicating that they are ready to break the addiction to government. I’ve been amazed to see people do whatever it takes to pay the bills, reduce their debt, and provide for themselves and their families. They’re showing that they can survive without government dependency.
Having started several businesses over my career, I’ve learned that when left alone, businesses will grow, thrive, expand, and hire. We often hear about all of the money that is sitting on the sidelines, just waiting on a sign that the economy is improving. I believe, and I think most business owners would agree, that investors and employers are waiting to see which direction our elected officials will take the country. Will they raise taxes and expand government or will they cut spending and taxes and trust the American people to jump start the economy of the greatest job producing engine ever seen on the face of the planet? Personally, if I had to choose between government babysitters or the ingenuity and work ethic of the American, people, I’d choose the latter.
Just as we did when we were children, people are saying, “We’re big boys and girls. We don’t need a babysitter. Just get out of our way.”
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction, real estate and motorsports.
Americans are demanding a new approach
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
When I was a child, my brother and I were thrilled at the idea that our mom and dad would go out and leave us at home without a babysitter. “We’ll be okay,” we would say, “We can take care of ourselves.” Part of the maturing process is a desire for independence, a chance to grow, stretch, and show what we can accomplish when given a chance.
As a parent, I remember doing everything possible to teach my daughter to be independent, to grow and take measured risks. Today, she is one of the most mature and independent young individuals I know. While she works well with others, she is also willing to step up, take the lead and be responsible for the outcome.
As we approach a very important election, it’s interesting to watch politicians and constituents wrestle with the “What are you going to do for me?” mentality. At a time when federal government spending and the national debt have grown far beyond sustainability, it seems the American people are beginning to realize that spending cuts are inevitable. They are absolutely necessary for survival. The challenge is deciding what to cut.
A dependent class
Over the decades, many have become dependent on the government to take care of them. As a result, there seems to be an inability (or unwillingness) to make even the most basic decisions without first consulting the government (law) to determine how or if something can or can’t be done. We’ve become a paralyzed and dependent class.
I recently saw a news story about an experiment that was conducted to see how people would react to an injured person in a public place. A man pretended to be injured in a railroad station, stretched out lifelessly on the platform to see how other passengers would react. Countless people walked by, looked at him, and then walked away. No one offered help. Why?
When they were asked why they did nothing, several reasons were cited. First, most people thought the railroad officials would call for help. Next, they thought it was a police issue – none of their business. Many were afraid of the liability if their actions were wrong. Finally, a few said they just didn’t have the time. The point is that we’ve become a dependent class, afraid of taking even the most basic responsibility to help ourselves or others. We expect someone else to handle just about everything.
The times, they are a changin’
Today, with a lingering recession and a federal debt that has spiraled out of control, even the dependent class has begun demanding that the federal government go on a diet. They’re saying it’s time for them to back off and stop spending money we don’t have. For the first time since the 1920’s, Americans are demanding that the federal budget be reduced, dramatically. The difficult part though, is that we’ll need to take more personal responsibility. For example, we’ll need to be smart enough to get a flu shot and cover our mouths when we cough without waiting to hear a government funded ad telling us to do so. Duh!
Just as many families, due to a job loss, have had to learn to live without restaurant dining, vacations, expanded cable television service and other luxuries, our bloated federal government is being told by voters that it, too, will have to cut back.
How will we survive?
Like an addict who struggles to break an addiction to alcohol or drugs, Americans are indicating that they are ready to break the addiction to government. I’ve been amazed to see people do whatever it takes to pay the bills, reduce their debt, and provide for themselves and their families. They’re showing that they can survive without government dependency.
Having started several businesses over my career, I’ve learned that when left alone, businesses will grow, thrive, expand, and hire. We often hear about all of the money that is sitting on the sidelines, just waiting on a sign that the economy is improving. I believe, and I think most business owners would agree, that investors and employers are waiting to see which direction our elected officials will take the country. Will they raise taxes and expand government or will they cut spending and taxes and trust the American people to jump start the economy of the greatest job producing engine ever seen on the face of the planet? Personally, if I had to choose between government babysitters or the ingenuity and work ethic of the American, people, I’d choose the latter.
Just as we did when we were children, people are saying, “We’re big boys and girls. We don’t need a babysitter. Just get out of our way.”
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction, real estate and motorsports.
Sunday, October 10, 2010
Get Out of the Way, Dr. Jekyll
Or, are you Mr. Hyde?
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
Something that has often puzzled me is when a company of community spends vast time and money to hire great people or vendors and then seeks to change them. What the heck is that about?
Every organization dreams of adding a real winner to the team, a person who will outperform any and all previous records. They put the word out that they’re looking for a killer salesperson, manager, economic developer, vendor (you name it) to take them to new levels of success.
They glean resumes, scour references, and put candidates through the interview wringer in order to discover Mr. or Ms. Glorious. A winner! After a few days or weeks on the job, they discover that Mr. Glorious does things a little differently.
I once met just such a winner. He was known industry-wide for achieving incredible sales and division growth. He was young, brash, aggressive, and allowed nothing to stop him. He showed up at the office around ten, took long and expensive lunches (with clients), played golf almost daily, and soon racked up sales that were three times higher than any other salesperson. The company president loved his sales but hated his style.
The “old man” was a by-the-book traditionalist who made it his mission to reign in Mr. Glorious. He expected employees to be at their desk, working, by eight and to never, ever, leave before five. He was obsessed with getting every minute of work out of every employee. The idea of paying for unproductive time made him crazy.
The office was full of eight-to-five drones who plodded along, as expected, putting in their time, and accomplishing very little. They followed the rules, did what they were told, kept quiet about any disagreements and probably took their frustrations home to their families. You see, the company president was notorious for using his authority and strong personality to mold employees and vendors into nice, neat clones of himself. As a result, few new ideas came out of the company. Not only was the place only mildly productive, it had become boring.
Long story made short, Mr. Glorious soon moved on. His personality and work style were far too different and he wasn’t about to change. But the story didn’t end there. A few years later, the company was purchased by a larger competitor that was buying up smaller companies in a massive acquisition spree. At the helm of the buyout giant was, you guessed it, Mr. Glorious. His company was widely known as the place to work. There were few rules. The employees functioned as a team and they had fun in what was a very unique, yet functional, workplace.
It happens to vendors, too!
If you’re a regular Rants reader, you are aware of my position on brands. You can’t change them by getting a new logo. If your company or community has a bad reputation (brand), a new logo won’t change a thing. You’ll simply become a bad company or community with a new logo.
I once saw a Fortune 500 company hire a respected marketing communications firm and spend hundreds of thousands of dollars for a new logo. The brand team viewed countless concepts. Some were very conservative and others were wildly unique. They wanted to modernize the company image and position it as the cutting edge leader they believed it to be.
After almost a year, a decision was made. The CEO, who had not been part of the process, chose to stay with the same logo the company had used for over a century. The brand manager, under massive pressure to explain what he was thinking when he suggested a new logo, fired the agency.
Today, the company is stuck in a rut, globally viewed as old, slow and vulnerable to takeover. It does great work but a musty cloud of age hangs over its future.
It takes a visionary!
Companies and communities want the excitement and rewards of being at the center of a flurry of success. The problem is that their leadership is often unwilling to do the things required to create that success. Leaders must be willing to take risks and break with tradition in order to create the kind of success and excitement they desire.
Wildly successful organizations are almost always led by a top executive who has a vision and courage to make bold moves. He or she is often seen as a bit odd, maybe even nutty. My experience however, is that this type of undisciplined visionary will make amazing things happen. They are willing to be different, refusing to follow the crowd.
Here are just a few business visionaries who became famous for their risk taking tendencies and courage. Each grew massive empires and created countless jobs:
Henry Ford (Ford Motors)
Sam Walton (Wal-Mart)
Oprah Winfrey (Harpo)
Bill Gates (Microsoft)
Steve Jobs (Apple)
Meg Whitman (eBay)
Mark Zuckerberg (Facebook)
Jeff Bezos (Amazon)
They were not afraid to be different. They were notoriously odd. Their friends, colleagues and the business community labeled them as dreamers. They were privately and publicly scoffed. But, they didn’t stop. They sought partners and employees who were also different.
Are you such a visionary? Are you willing to be different?
When are you going to get started?
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction, real estate and motorsports.
Or, are you Mr. Hyde?
By Jim Walton
CEO, Brand Acceleration, Inc.
Indianapolis and Charlotte
Something that has often puzzled me is when a company of community spends vast time and money to hire great people or vendors and then seeks to change them. What the heck is that about?
Every organization dreams of adding a real winner to the team, a person who will outperform any and all previous records. They put the word out that they’re looking for a killer salesperson, manager, economic developer, vendor (you name it) to take them to new levels of success.
They glean resumes, scour references, and put candidates through the interview wringer in order to discover Mr. or Ms. Glorious. A winner! After a few days or weeks on the job, they discover that Mr. Glorious does things a little differently.
I once met just such a winner. He was known industry-wide for achieving incredible sales and division growth. He was young, brash, aggressive, and allowed nothing to stop him. He showed up at the office around ten, took long and expensive lunches (with clients), played golf almost daily, and soon racked up sales that were three times higher than any other salesperson. The company president loved his sales but hated his style.
The “old man” was a by-the-book traditionalist who made it his mission to reign in Mr. Glorious. He expected employees to be at their desk, working, by eight and to never, ever, leave before five. He was obsessed with getting every minute of work out of every employee. The idea of paying for unproductive time made him crazy.
The office was full of eight-to-five drones who plodded along, as expected, putting in their time, and accomplishing very little. They followed the rules, did what they were told, kept quiet about any disagreements and probably took their frustrations home to their families. You see, the company president was notorious for using his authority and strong personality to mold employees and vendors into nice, neat clones of himself. As a result, few new ideas came out of the company. Not only was the place only mildly productive, it had become boring.
Long story made short, Mr. Glorious soon moved on. His personality and work style were far too different and he wasn’t about to change. But the story didn’t end there. A few years later, the company was purchased by a larger competitor that was buying up smaller companies in a massive acquisition spree. At the helm of the buyout giant was, you guessed it, Mr. Glorious. His company was widely known as the place to work. There were few rules. The employees functioned as a team and they had fun in what was a very unique, yet functional, workplace.
It happens to vendors, too!
If you’re a regular Rants reader, you are aware of my position on brands. You can’t change them by getting a new logo. If your company or community has a bad reputation (brand), a new logo won’t change a thing. You’ll simply become a bad company or community with a new logo.
I once saw a Fortune 500 company hire a respected marketing communications firm and spend hundreds of thousands of dollars for a new logo. The brand team viewed countless concepts. Some were very conservative and others were wildly unique. They wanted to modernize the company image and position it as the cutting edge leader they believed it to be.
After almost a year, a decision was made. The CEO, who had not been part of the process, chose to stay with the same logo the company had used for over a century. The brand manager, under massive pressure to explain what he was thinking when he suggested a new logo, fired the agency.
Today, the company is stuck in a rut, globally viewed as old, slow and vulnerable to takeover. It does great work but a musty cloud of age hangs over its future.
It takes a visionary!
Companies and communities want the excitement and rewards of being at the center of a flurry of success. The problem is that their leadership is often unwilling to do the things required to create that success. Leaders must be willing to take risks and break with tradition in order to create the kind of success and excitement they desire.
Wildly successful organizations are almost always led by a top executive who has a vision and courage to make bold moves. He or she is often seen as a bit odd, maybe even nutty. My experience however, is that this type of undisciplined visionary will make amazing things happen. They are willing to be different, refusing to follow the crowd.
Here are just a few business visionaries who became famous for their risk taking tendencies and courage. Each grew massive empires and created countless jobs:
Henry Ford (Ford Motors)
Sam Walton (Wal-Mart)
Oprah Winfrey (Harpo)
Bill Gates (Microsoft)
Steve Jobs (Apple)
Meg Whitman (eBay)
Mark Zuckerberg (Facebook)
Jeff Bezos (Amazon)
They were not afraid to be different. They were notoriously odd. Their friends, colleagues and the business community labeled them as dreamers. They were privately and publicly scoffed. But, they didn’t stop. They sought partners and employees who were also different.
Are you such a visionary? Are you willing to be different?
When are you going to get started?
Brand Acceleration is a full-service advertising, brand management and public relations firm operating from Indianapolis, Indiana and Charlotte, North Carolina. The agency’s focus is on economic development, architecture/engineering/construction, real estate and motorsports.
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