The Top 10 eCommerce Benefits for Manufacturers

Powerful eCommerce Benefits exist for companies willing to embrace eCommerce strategies. 

This holds especially true for manufacturers. 

Even though manufacturers have been slow to capture the incredible opportunities presented with eCommerce.

If you have been contemplating how eCommerce could help your company, we put together a list of the Top 10 eCommerce Benefits for manufacturers. 

Top 10 eCommerce Benefits for Manufacturers 

eCommerce Benefits

Below is our list of Top 10 eCommerce Benefits for Manufacturers: 

  1. Open 24/7 = round the clock customer service & sales tool
  2. Find Soulmates
  3. Eliminate the cumbersome RFQ process
  4. No A/R
  5. Low cost marketing and sales strategy
  6. Market Research
  7. Stay in Wheelhouse = Right Knee Guy/Gal = SCALE!  (SKOL)
  8. Open doors that you never knew existed 
  9. International opportunities
  10. Scale your Proprietary Process

Let’s dig deeper…………..

#1 ) 24 Hour Sales Tool 

When my wife was in college, she lived across the street from a store called, “We Never Close”. 

A business that never closes certainly is convenient when you need something at 2:00 AM. 

A major eCommerce benefit for you to capture, your eCommerce store never closes. 

Your website is your 24 hour a day – 7 days a week sales tool.

Click on your website right now. How does it look?

Do you provide valuable information to help a new customer make a buying decision?

Your website is way beyond a simple online business card. 

Your website represents YOUR COMPANY. 

When conducting eCommerce workshops, I like to use the example, your website should allow the viewer to make a buying decision on Saturday night at midnight. 

Make it a top priority to provide all necessary information that they don’t have to wait until you open on Monday morning. 

Just remember, you have one chance to make an outstanding 1st impression. 

One Chance to Make an Outstanding WEBPRESSION

In other words, you have one chance to make that great first Webpression!

Would you allow a salesperson represent your company in a poor fashion? 

Disheveled. Outdated. Uniformed. Delivering partial or even wrong information.

Furthermore, unable to describe your expertise and product as well as the solutions that you provide. 

Incapable of explaining the company history, mission, processes and capabilities. 

Of course not. 

Treat your website like the most important representative of your company. 

Related article: You Have Only One Chance to Make an Outstanding First Webpression

Found in Search Results? 

If your website is not a top priority, here is an important question to consider: 

  • What is the first thing that you do when looking for a new product or service? Most likely, you rely on your good friend Google.

Your potential new customers rely on Google as well.

Therefore, are you coming up on a search for your core capabilities?

In other words, are you attacking your keywords? 

Go to Google right now and type your top capability in the search box. 

Are you anywhere to be found on the first page? 

If the answer is no, hopefully, you are mad. 

Do you see your competitors coming up in the search results? 

If the answer is yes, hopefully, you are now even angrier than before.  

Contact an online marketing specialist immediately. 

Stop being the best-kept secret. 

Make your website a top priority. Now. 

Be found and make that Great 1st Webpression! 

Treat your website as one of the most important employees on your team and give it everything you’ve got. 

#2) Find Soulmates

Another factor on the list of eCommerce benefits: Discover your Soulmate (aka: Your ideal customer). 

When executing eCommerce strategies and creating a website that attracts new customers, I like to refer to those ideal customers as “Soulmates”. 

You know the type. That coveted client who would completely change your business.  

For comparison, where does a single person find their soulmate?

Single? Possess an insane schedule? Not into the bar scene?

Online dating is now the norm. It’s almost surprising when a new couple meets outside of an online dating site or social media platform.

The negative stigma of online dating is a thing of the past.

According to the statics portal, Statista, 30% of 18 to 29 year olds currently use a dating website with an additional 31% used a dating site in the past.

Online dating allows you to explore the personality traits, passions, interests, and hobbies of a potential partner.

It’s wonderful when you hear a friend or relative live out a wonderful success story by finding a companion and love interest.

Maybe you have your own success story to share.

Does your website make you look “Soulmate Worthy”?

Well, the exact same process works when a customer searches for a new supplier or vendor.

They seek a partner who represents reliability and trust.

Do you express your experience and expertise? 

Furthermore, do you explain your value to the market as well as demonstrate how customers benefit by partnering with you? 

A strong online presence and eCommerce both show how you deliver quality.

How you help increase the profitability of your customer as well as improve business. Dramatically. 

Make sure your website clearly and concisely demonstrates the problems you solve. 

Implementing eCommerce creates an opportunity that you are truly a worthy soulmate. 

So take a hard objective look at your website. 

Would you want to date you? 

In other words, based on your website, would you do business with you? 

#3) Eliminate the Cumbersome RFQ Process = Close Sales Immediately

Another key ingredient on the list of eCommerce Benefits includes cutting down or even eliminating the RFQ process. 

For example, let’s say you receive a new lead. They send an email.

How did they find you? What keyword did they use?

Additional questions and concerns include is this company actually legit? Do they pay their bills?

Why are they contacting you? Who did they contract with before?

Plenty of unanswered questions.

As a manufacturer, odds are you have received plenty of requests for quotes that never develop into a sale. 

To maximize efficiency, eCommerce helps you nurture “Soulmates” and good leads as much as it helps weed out bad leads. 

eCommerce Benefits Manufacturers by Eliminating the Cumbersome RFQ Process 

So, let’s walk through the RFQ process: 

  • First, the prospect sends you a drawing.
  • You analyze and evaluate what it will take to complete the project.
  • Next, you do your best to estimate the amount of time, energy and resources necessary to complete the project.
  • You price out the raw material, parts, and components.
  • Contact vendors for lead time.
  • Estimate product delivery times to determine when all material will be at your facility.
  • Check the production schedule to determine when the project comfortably fits.

Finally, you type up the proposal. Then you send it off with confidence. 

Then you wait……….. Crickets……….. Did they receive the quote? Why didn’t they accept your bid? Price too high? Lead time too long? Was it a competitor just testing you?

Are you a good judge of character? Can you determine a quality lead from the time-wasters?

eCommerce Benefits manufacturers by improving efficiency

Embracing eCommerce helps create a sales funnel. It allows you to narrow your focus.

It also helps prevent the risk of chasing bad leads.

My father used to preach “chase profits, not sales”.

eCommerce benefits manufacturers by offering the opportunity to make the quoting pricing precise, efficient, fast and concise.

It removes the guessing.

Everything is already in place. 

For example, vendors and products already determined. Time frames and timelines as well as processes are known.

It removes the guessing and estimating as well as the ballpark pricing, the “I think”, or “one time we made something like this”.

Additionally, add in the completely depressing jobs that were flat our quoted wrong. 

Especially for the customer that insists on a production run prior to a prototype run. 

Halfway into the project, you discover that there is no way to meet the times. You are upside down. 

Every part produced is costing you money. 

Why do companies chase after jobs, projects, products, customers, opportunities that send them down an unfamiliar path?

The reason: Sales – revenue – money – keep the staff working. 

Yet, you never know your next favorite food until you try it.

The what if’s…….

What if this opens a major door? What if this takes your company to a high level? Best decision ever. Your company explodes.

On the other hand,  you find the project exhausting company energy and resources as well as completing wasting time. 

Furthermore chasing a total dead end a wasting profits. 

Time makes us look like a complete fool or a genius – usually nothing in between. Only time will tell.

He is an example of a company taking full advantage of eCommerce Benefits available by offering an instant quoting and estimating software tools for “Soulmates”. 

Take a look at two excellent examples: 

 

Falconer Electronics Instant Ground Strap Quotebuilder 

 

 

 

Falconer Electronics Wire Harness Estimator 

 

 

#4) No Accounts Receivables

eCommerce Benefits Cash Flow: You are paid BEFORE the product leaves your facility

One of my absolute favorites on the list of eCommerce Benefits: No Receivables! 

Well, truth be told, that’s like trying to pick a favorite child. 

However, can you imagine a life with NO receivables? 

Sounds like heaven, right?

I am pretty sure I would still have hair if I had never carried receivables while in my 20’s. URGH!

For example, I vividly recall many nights praying that a customer check would arrive in the mail the next day just to cover payroll.

Though it is too late for me, take full advantage of eCommerce Benefits available to you.

If for nothing else, simply to prevent your hair from falling out. 

eCommerce Benefits Cash Flow: Paid Before Product is Shipped

Well, can you imagine being paid before the product goes out the door?

Euphoria! 

An eCommerce store offers that exact opportunity. 

For example, a customer purchases your product on your website and PAYS for it at checkout. 

You haven’t even shipped it yet. 

As a manufacturer, there is a chance you haven’t even produced it yet at this point. 

Thus, a positive cash flow opportunity. 

Cash is King!

Strong, healthy and positive flowing cash creates options.

Positive cash flow creates tremendous opportunities along with plenty of exciting options.

You have an abundance of problems with running your business.

Lots of Stress.

Employee issues. Sales. Marketing. Vendor relationships. Taxes. Health insurance. All other insurances for that matter. Liability claims. Safety. Quality. The list goes on.

Thus, just think if you could eliminate one hassle, receivables.

This was a constant dream of mine and eCommerce answered those dreams.

Positive cash flow certainly provides peace of mind.

No dreaded collection phone calls to the customer.

No emails begging for money.

Implementing eCommerce also eliminates contacting your attorney to start the collection process.

It is said that money ruins friendships.

Well, money ruins vendor/customer relationships quickly.

You think that a customer is a friend until they stop paying you. 

On the other hand, for an experiment, stop paying a vendor that you consider a close friend.

See how fast that relationship sours. 

Always knowing that you are going to be paid for a job creates thriving business relationships.

#5) No Major New Capital Expenditures:

eCommerce Benefits include Low Cost – Low Risk – Minimal Investment

 

 

Check out this fantastic guide on eCommerce website development from Georgia Web Development: HOW MUCH DO ECOMMERCE WEBSITES COST IN 2020?

 

doesn’t work just close down the site. $19.99 per month – WooCommerce has free options.

 

– growth tied to variable expenses – goes straight to the bottom line

Ecommerce adds little to nothing to fixed expenses. As discussed, shopping carts are cheap. Hosting fees are nominal.

Fill capacity

Amazon & eBay

If you are uncertain of the direction to go or the cost of a new eCommerce store sounds too expensive, consider Amazon or eBay.

In particular, if you have proprietary products or finished goods.

Amazon and eBay might be an excellent method to get started with eCommerce.

The success of Amazon and eBay speak for themselves. We don’t need to go into great detail describing either company or platform.

Odds are you have purchased on either or both websites.

These MASSIVE online marketplaces deliver instant opportunities for potential customers.

Yet, just like trying to be found on Google, these marketplaces can be a needle in the haystack as well.

Factoring the cost of the website could be a safer alternative to consider.

 

#6 – Stay in Your Wheelhouse 

eCommerce Benefits

 

Strive to perfect your proprietary process

Put every strength in your corner for success

Reduce chasing sales and customers that fall outside of your expertise

 

Narrow the funnel.

Stay in your lane.

It is common that they are the tradesperson. The hairstylist or plumber. No one knows their product and process better than they do.

They have built a nice business and made a comfortable living for years relying on a few customers.

Unfortunately, the world keeps changing. Global competition becomes more fierce every year.

The internet and eCommerce have opened doors that 20 years ago never existed. Phone book ads have vanished. Trade shows are expensive.

Consulting with dozens of job shops, a consistent frustration shared with these small business owners falls on finding a reliable marketplace for new customers.

Frequently a client with receive a lead or a request for a quote on a product or process that is not particularly in their wheelhouse. Projects that fall outside their specific area of expertise.

Who wants to pass up on a sale? So the company throws precious time, energy and company resources into the RFQ chasing the sale.

Due to inexperience, the quote comes in below the competition. Parts, processes, steps are potentially overlooked. What now?

I have actually heard clients express, “What are we going to do if we actually land this bid?”

I call it “Going to Russia”. (Click here

 

#7 – eCommerce IS your market research: Test new products & new ideas

eCommerce Benefits

 eCommerce Benefits 

adding an eCommerce store to your current website is an outstanding method to test new products on the market. 

 

The market will let you know if your idea or product provides value or not. 

Some more quickly than others. 

Tackling eCommerce gets on the field. 

Don’t wait. 

Done is better than perfect

Just get in the game

LinkedIn founder, Reid Hoffman famously declared:

If you are not embarrassed by the first version of your product, you’ve launched too late.

Put yourself out there – fall down & pick yourself up – keep moving – keep testing

Pursue your goals relentlessly

If you have a finished good, place it on your website and see what happens. 

List your product on Amazon. 

Contact marketplaces such as Zoro. 

 

#8) Open doors to that otherwise never existed for you

eCommerce Benefits

– open doors to an industry or customers that you had no idea existed

Diversify your customer base – less reliant on a handful of customers – reduce the % of top one or two customers

Creates a back door revenue source

Sell existing inventory to new customers

 

 

#9) Go Global = Attract International Markets

eCommerce Benefits

I have two interesting client stories to share with you……….

Blixt New Zealand order

A client of mine owned a company founded in 1919. The current owner was a third generation local distributor of electrical products. Employed a staff of 20 with nearly $3 million in sales. The business service area comprised of a 60 mile radius for its 100 years history. However, the company had no online presence. This particular business was a perfect fit for eCommerce.

He invested $5000 in a new website which included an eCommerce store. The first week of launching the new website, the client lands a $10,000 order. Even more exciting, the order came from a customer in New Zealand. Here is a business that rarely shipped outside of its 60 mile radius who now opened an international opportunity. Priceless. Later that year, the client landed a six figure order for a new customer in Mexico.

 

 

Watch out for the scams

When you receive a lead with a generic email such as Gmail.com, Hotmail.com, AOL.com, Yahoo.com and others, this is a red flag.

 

#10) Scale Your Proprietary Process 

 

STEPS TO CONVERT YOUR PROPRIETARY PROCESS INTO A PROPRIETARY PRODUCT 

  1. Identify Your Core Strengths: In other words, the product where you deliver the highest value to the market. The product where you have created the strongest competitive edge over your competitors.
  2. Narrow the menu – 80/20 Rule
  3. Create several scenarios where a customer order at various quantities
  4. Calculate Customer Pricing – raw material – components – parts & determine time and cost on machinery – factor in labor cost – attach an overhead charge – add margin – exact same procedure had a customer submitted a new RFQ.
  5. Set quantity discounts as you would with any customer
  6. Discuss with your web designer if you could implement this into an eCommerce store. Simply adding non-tangible activity (labor, machine time, overhead and gross margin as units to be calculated in the shopping cart.
  7. Add eCommerce to your existing website
  8. Market the hell out of your website

 

11) No Cold Calls

 

 

12) Lucky #13 Online Marketplaces 

Utilize online marketplaces 

 

 

Wrapping It Up

Thank you for taking the time to read this post on eCommerce Benefits for manufacturers. 

For additional info, check out these helpful posts: 

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“Turn the Ship Around! A True Story of Turning Followers Into Leaders”

“Turn the Ship Around!”

Sounds easy enough, right? Not exactly!

Many drivers have a tough time parallel parking a car or conducting a proper K-turn.

Imagine actually turning this ship around?

Seems like a daunting task, right?

Well, do you ever feel like your business is a mammoth ship that needs turned around?

Especially those companies that have been around for a long time.

In particular, manufacturers that have layers of processes and systems in place.

Businesses commonly suffer from “Sacred Cowititis” (I just made that up – sounds like a future blog).

You know, those dreaded “sacred” processes that nobody has the time or energy to change.

Yet, you want to change, but how?

Just to take that first step, most of us need a playbook.

Well, we have just what the doctored ordered.

To turn your ship around, grab a copy of the amazing book, “Turn the Ship Around!” by author L. David Marquet.

Turn the Ship Around!

To gain a clear vision of what it takes to “Turn the Ship Around”, L. David Marquet offers explicit details with his highly acclaimed book, “Turn the Ship Around! A True Story of Turning Followers Into Leaders”.

“Turn the Ship Around” is an AMAZING book on leadership, team building as well as achieving organizational goals.

 Fortune magazine called the book the  “best how-to manual anywhere for managers on delegating, training, and driving flawless execution.”

Disrupting processes in a bureaucratic organization such as the Navy certainly makes waves (sorry for the pun, I couldn’t help myself).

Yet, Marquet accomplished just that.

He took over the leadership position of a Navy submarine that had struggled for many years.

Marquet instilled empowerment, welcomed constructive feedback, and created leaders who thrived.

About the Author: L. David Marquet

Captain Marquet graduated from the Naval Academy in 1981.

Then served in the U.S. submarine force for 28 years. Marquet was assigned the nuclear powered submarine USS Santa Fe, which at the time was ranked last in operational standing and retention.

To “Turn the Ship Around”, he took a new approach to turn the last place ranking into first. He did so by treating his team as leaders and granting autonomy and control.

Shifting from the traditional “take control, give orders” approach, Marquet’s crew achieved the highest retention and operational standing in the Navy.

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Below includes an excerpt from “Turn the Ship Around” the describes Marquet’s leadership philosophy:

“ W. Edwards Deming lays out the leadership principles that became known as TQL, or Total Quality Leadership. This had a big effect on me. It showed me how efforts to improve the process made the organization more efficient, while efforts to monitor the process made the organization less efficient. What I hadn’t understood was the pernicious effect that “We are checking up on you” has on initiative, vitality, and passion until I saw it in action on Santa Fe.”

After David’s departure from the ship, the Santa Fe continued to win awards and promoted a disproportionate number of officers and enlisted men to positions of increased responsibility, including ten subsequent submarine captains. Furthermore, upon visiting Marquet’s ship, best selling author Stephen R. Covey said it was the most empowering organization he’d ever seen. Covey was so impressed, he wrote about Captain Marquet’s leadership practices in his book, “The 8th Habit”.

Marquet concluded his illustrious career when he retired from the Navy in 2009.

Check out this AWESOME video from David Marquet on how to “Turn the Ship Around”:

 

Quotes from “Turn the Ship Around”

When the performance of a unit goes down after an officer leaves, it is taken as a sign that he was a good leader, not that he was ineffective in training his people properly.

Achieve excellence, don’t just avoid errors. Build trust and take care of your people. Use your legacy for inspiration. Use guiding principles for decision criteria.

What it does mean is giving them every available tool and advantage to achieve their aims in life, beyond the specifics of the job.

Use immediate recognition to reinforce desired behaviors. Begin with the end in mind. Encourage a questioning attitude over blind obedience.

Are you content with the reason “Well, mistakes just happen” when it comes to managing your business? We rejected the inevitability of mistakes and came up with a way to reduce them.

Excellence was going to be more than a philosophy statement pasted to the bulkhead; it was going to be how we lived, ate, and slept.

ACHIEVE EXCELLENCE, DON’T JUST AVOID ERRORS is a mechanism for CLARITY. (The book to read is Simon Sinek’s Start with Why.)

CONTINUALLY AND CONSISTENTLY REPEAT THE MESSAGE is a mechanism for COMPETENCE. Repeat the same message day after day, meeting after meeting, event after event.

When I’ve conducted this exercise, I usually find that the worries fall into two broad categories: issues of competence and issues of clarity.

There was an emphasis on blaming what was happening on outside influences and factors, and the crew evidenced a collective lack of responsibility.

Marquet Asks Challenging Questions

Lastly, below includes a list of challenging questions that Marquet asks:

How do you respond when people in your workplace don’t want to change from the way things have always been done?

What are some of the costs associated with doing things differently in your industry?

Do we act first, and think later? Or do we think first, and then change our actions?

Wrapping It Up

To conclude, as David Marquet describes, turning the ship around takes inspiration, vision, leadership, teamwork, and healthy communication. Developing leaders not only drives success but also creates significance.

I would love to hear what steps do you take that keeps your ship turning in the right direction?

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Pre-Internet Influencers: 20th Century Management Consultants

Let’s take a look at Pre-Internet Influencers: 20th Century Management Consultants. Think about that. Can you imagine building your business or even branding yourself without the internet?

In addition, how on earth did we conduct business or connect with others Pre-Internet? Or as my daughter likes to say, in the “Olden Days”.

Management Consultants Who Impacted Manufacturing

Businesses commonly rely on consultants to help advance their business strategies.

Especially at small manufacturers where it is simply unrealistic to staff an expert in every category necessary.

So where do you find a guru to help you tackle a project quickly, efficiently and effectively?

In the digital age, there are many choices to find that expert who will help fill gaps at your business.

You can conduct a few Google searches. Explore LinkedIn.

Additionally you can browse YouTube, Facebook, Instagram, Twitter and even watch a Ted Talk.

Yet, can you imagine trying to either become or find an industry influencer today without the internet or social media?

Think about that. How would you establish yourself without a web presence of some type?

Yet, for those of us old enough to recall, that is exactly what life was like in the 20th century.

For this discussion, let’s take a look at three legendary management consultants who left a lasting legacy on manufacturers in the Pre-Internet era: W. Edwards Deming, Peter Drucker and Tom Peters.

All three of these management consultants found international success with their influence as well as pioneering ideas on business management practices.

Additionally, what is even more amazing, they all established a prominent global footprint with NO website. NO social media. NO LinkedIn.

W. Edwards Deming

W. Edwards Deming is considered by many to be the master of continual improvement, as well as overall operational efficiency and quality.

In June 1980, the acclaimed documentary “If Japan Can, Why Can’t We” reintroduced Dr. Deming to America. He quickly became the voice of quality and sparked the quality revolution.

Deming consulted with clients such as Ford, Xerox and Proctor & Gamble.

In particular, Deming played a major role in the resurgence of the American automobile industry in the late 1980’s. Below includes several favorite quotes from Deming:

  • “A Bad System Will Beat a Good Person Every Time”
  • “Two basic rules of life are: 1) Change is inevitable. 2) Everybody resists change.”
  • “Eighty-five percent of the reasons for failure are deficiencies in the system and process rather than the employee. The role of management is to change the process rather than badger individuals to do better.”

For more inspirational quotes, click this link: Do You Find Inspirational Quotes Help Conquer Tough Times?

Peter Drucker

Another consultant from the 20th century who left a lasting legacy includes Peter Drucker.

Peter Drucker, commonly referred to as the “father of management“, authored 39 books.

Above all, he wrote 30 (THIRTY) books AFTER the age of 60 (SIXTY)! That’s inspiration!

The impressive Drucker client list included a line up of corporate giants such as IBM, GM, GE, Intel, Coca-Cola, and Proctor & Gamble. 

Drucker delivered ground breaking views on motivation, efficiency and time management.

Furthermore, he is also credited with coining the term “knowledge worker“.

Check out this fantastic article about Peter Drucker from the Harvard Business Review: “What Peter Drucker Knew About 2020″.

Drucker’s books serve not only corporate warriors, but also entrepreneurs as well.

For example, his 1985 book “Innovation and Entrepreneurship” deserves the role as mandatory reading for every entrepreneur.

Below includes a list of the many memorable quotes from Peter Drucker:

  • “Doing the right thing is more important than doing the thing right.”
  • “If you want something new, you have to stop doing something old.”
  • “There is nothing quite so useless as doing with great efficiency something that should not be done at all.”
  • “Results are gained by exploiting opportunities, not by solving problems.”
  • “So much of what we call management consists of making it difficult for people to work.”
  • “Meetings are by definition a concession to a deficient organization. For one either meets or one works. One cannot do both at the same time.”

Tom Peters

Lastly, Tom Peters co-authored in 1982 a timeless classic and one of the greatest business books of all time: The international best seller “In Search of Excellence: Lessons from America’s Best-Run Companies”.

He has written numerous business books including his most recent book from 2018, “The Excellence Dividend: Meeting the Tech Tide with Work That Wows and Jobs That Last”.

Tom Peters continues his decades long legacy as a brilliant business consultant and trusted advisor on management and leadership.

The client list of Tom Peters includes the Hersey Company, Rolls-Royce Aerospace, Texas Instruments and the U.S. Army.

Several excellent quotes from Tom Peters include:

Wrapping It Up

There you have it. Lasting legacies from three icons that were built prior to the internet and social media.

Three management consultants who just “Crushed It” long before Likes, Follows, or Tweets existed. You know, back in the “Olden Days”.

Do you have influencers from the Pre-Internet era that made a lasting impression on your business or career?

Lastly, how would you brand yourself today without the internet?

 
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Do You Find Inspirational Quotes Help Conquer Tough Times?

Do you find inspirational quotes help you conquer tough times?

Being an entrepreneur requires a consistent positive attitude.

You need your game face on at all times – display constant determination – maintain a laser focus.

Especially during times of stress such as battling those particular days when nothing seems to go right.

Entrepreneurs need to remain optimistic and upbeat through the toughest of challenges.

Sometimes we just need words of wisdom like a few inspiring quotes to keep us on track.

Quotes That Inspire

Inspirational Quotes

Sorry to be cliche but who doesn’t love quotes of inspiration and motivation?

A couple of classics:

  • “Success is going from failure to failure without losing your enthusiasm.” ~Winston Churchill
  • “Win one for the Gipper!” – Knute Rockne

Of course, one of the most comical motivation speeches of all time comes from Bluto (John Belusi) in the 1978 movie “Animal House”.

Yet, entrepreneurs tend to turn to business icons or titans of industry for words of inspiration and motivation.

Great business quotes serve not only as an excellent source of inspiration but they also help put things in perspective during challenging times.

Inspirational Quotes by Henry Ford

Legendary auto icon Henry Ford was known for his insightful one-liners. Henry Ford delivered a wealth of outstanding quotes:

For more inspirational quotes click this link: Pre-Internet Influencers: 20th Century Management Consultants

Inspirational Quotes by Steve Jobs

 

Steve Jobs needs no introduction. Technology visionary. Computer pioneer. Inventor. Entrepreneur. Co-founder of Apple. He also revolutionized the cartoon industry with Pixar. Steve Jobs died way too young in 2011.

Below include a few favorites:

  • “I’m as proud of many of the things we haven’t done as the things we have done. Innovation is saying no to a thousand things.”
  • “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful…that’s what matters to me.”
  • “Have the courage to follow your heart and intuition. They somehow know what you truly want to become.”
  • “If you define the problem correctly, you almost have the solution.”
  • “The only way to do great work is to love what you do…. Don’t settle”
  • “The people who are crazy enough to think they can change the world are the ones who do.”
 

 

Inspirational Quotes by John D. Rockefeller

John D. Rockefeller achieved great heights of unimaginable success. Rockefeller founded The Standard Oil Company in the 19th century.

Thanks for taking the time to read this post.

Do you have particular quotes that help you conquer tough times?

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Building Trust Boosts “Powerful Personal Brands” with Ben Baker

A title on one of the Growth Experts podcasts by Dennis Brown caught my eye recently that inspired this post: Trust…If you don’t have it, you have no BRAND with Ben Baker.

On the podcast, Ben shares outstanding tips on how he built his successful career and business by Building Trust with his clients.

Do yourself a favor and click here to listen to this fantastic conversation with Ben and Dennis.

Ben Baker Shares Strategies on Building Trust

Ben Baker

For a quick background, Ben Baker delivers a wealth of experience serving as:

During the Growth Experts podcast, Ben states Building Trust requires:

  • Time
  • Consistency
  • Effort

Ben recommends asking yourself and your team poignant questions while working on Building Trust with customers:

  • What do we do?
  • Why we do it?
  • How do we do it better?
  • What do we do differently?

What Problem Do You Solve?

Ben Baker

In particular, this last question that Ben asked especially hit home. Your team should always be asking: “What problems do we solve”?

Ben says solving that problem consistently and better than anyone else while demonstrating a deep understanding for your customer is critical with Building Trust.

Additionally, Ben makes an excellent point to not only understand your customer but also gain a clear understanding of your customer’s customer.

Another takeaway from the podcast with Ben Baker includes focusing on being authentic rather than attempting to define yourself against your competition.

As Ben points out, we all have competitors. Even great companies such as Coke and Apple face fierce competition. Therefore, striving to deliver the best products and services results in Building Trust.

Lastly, Ben recommends delivering a strong and consistent message. Stay in your lane.

After connecting with Ben on LinkedIn, he graciously and generously shared a few quotes on Building Trust:

  • “Be the person who does what they say and says what they do”.
  • “Great leaders make safe space for others to learn how to succeed.”
  • “Take time to understand how you can help others….then go out and do it.”
  • “How do you want to be thought of when you are not in the room?”

Thank you for sharing these incredibly valuable tips Ben!

Ben Baker: Author of “Powerful Personal Brands”

In his book “Powerful Personal Brands”, Ben does an amazing job. Ben shares interesting stories of his youth as well as conducts several interviews with thought leaders on building a “Powerful Personal Brand”.

A particular comment on Building Trust that stood out from one of Ben’s interviews: “Be genuine with your outreach”.

Lastly, Ben truly asks compelling questions. Once again, a powerful question that Ben asks in his book:

“Who are the Top Three People You Admire….And Why?”.

This is an outstanding question that makes you reflect on individuals who have helped shape the person that you are today.

You will have to buy the book to find out Ben’s top 3.

Wrapping It Up

In conclusion, let’s hear from Ben himself on his thoughts on Building Trust.

Here is a great video from Ben – enjoy!

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19 Tips on the Art of Building Trust (Plus a Bonus Tip From Warren Buffet)

As an eager student of life, I long for the knowledge and tools to further myself in the Art of Building Trust.

Building Trust plays a critical role with any relationship.

Trust is based on truth.

It is human nature that we all hunger for trust and truth.

However, in some cases you just can’t handle the truth.

Well, sometimes handling the truth includes dealing with a betrayal of trust.

Ever have someone violate your trust?

Most likely we have all experienced a violation of trust at some point in time.

In other cases, intentional or not, we may have been the culprit who broke the trust of another.

Either way, recovering broken trust can be a long and painful process.

For this particular conversation, let’s discuss Building Trust with business relationships.

It is so incredibly inspiring when you find an individual or business devoted to high integrity.

Surrounding yourself with people that you trust while conducting business is truly a gift. Why? Because money is involved.

Isn’t it interesting that the cliche states “never mix money with friends and family”?

Yet, as we build business relationships, don’t we strive to develop healthy relationships in the same manner as friends and family?

Have you ever walked out of a meeting where you felt the need to take a shower immediately after? Why? Because money was involved and you felt others at the meeting were fixed on taking yours.

So let’s add, “never mix money with friends and family AS WELL AS those who you feel the need to take a shower after meeting”.

The Art of Building Trust

Building Trust

In the early stages of a business relationship does someone trust you immediately? Most likely not.

It takes time.

The same goes with developing a skill or an art.

When watching an amazing performance of a top athlete, musician, or artist, most spectators have no idea of the hours upon hours required with rehearsing and practicing that goes on behind the scenes.

To develop that art it takes lots heart and passion. Hard work. Commitment. Determination. Commitment. Persistence. Overcoming mistakes. Practice. Routine. Healthy habits.

The same goes with healthy business relationships. It takes weeks, months or even years with……

  • Building Trust.
  • Establishing Trust.
  • Earning Trust.
  • Nurturing Trust.

However, it only takes moments to completely destroy that trust.

Yet, trust doesn’t necessarily mean that you like someone.

An interesting question popped up while discussing this topic with a colleague:

Would you rather do business with someone you like but do not trust as opposed to someone that you don’t like but fully trust?

So how is trust created?

Let’s dig further……

Definition of Trust

Building Trust

Is building trust truly an art form?

How do you define building trust?

Webster’s defines trust as:

1 a : assured reliance on the character, ability, strength, or truth of someone or something

b : one in which confidence is placed

2a : dependence on something future or contingent  : HOPE

b : reliance on future payment for property (such as merchandise) delivered  :CREDIT bought furniture on trust

3a : a property interest held by one person for the benefit of another

b : a combination of firms or corporations formed by a legal agreement especially  : one that reduces or threatens to reduce competition

4a :  CARE,  CUSTODY the child committed to her trust

b(1) : a charge or duty imposed in faith or confidence or as a condition of some relationship

(2) : something committed or entrusted to one to be used or cared for in the interest of another

LinkedIn is an amazing platform loaded with professionals who deliver invaluable messages and helpful pieces of advice on Building Trust.

For example, Edward Zia Founder of Excellence Above Coaching in Australia (Marketing Mentor, Business Commentator, Blogger and 4Networking Leader) shared his thoughts on the Art of Building Trust:

“At the end of the day you can say what you want, people will measure trust by your consistent actions and behaviors on a daily basis. So watch out and make sure that you are doing the RIGHT thing.”

Who Do You Trust AND Who Trusts You?

Building Trust

Who is the first person that comes to your mind regarding Building Trust?

  • Your significant other
  • Parent
  • Coach
  • Teacher
  • Mentor
  • Boss
  • Friend
  • Relative
  • Religious leader

When conducting business, who do you trust? More importantly, who trusts you?

  • Employees
  • Vendors
  • Customers
  • Service providers

That is what makes referrals such a powerful tool. When a TRUSTED acquaintance recommends your product or service, immediate credibility takes place.

19 Tips for Building Trust (Plus a Bonus Tip from Warren Buffet)

Building Trust

Well I certainly do not claim to be an expert or guru on Building Trust.

My goal is to simply continue earning trust by working relentlessly with an authentic and genuine passion to help others.

So without any research or academic accolades on Building Trust, below includes “Trust Builders” that have developed over the years in my world:

  1. Choose integrity first
  2. Healthy communication
  3. Always be helping
  4. Say “I’m sorry” quickly
  5. Take accountability
  6. Be open to constructive feedback (yes, accept criticism)
  7. Confront the brutal facts (Thank you Jim Collins in “Good to Great”)
  8. Challenge others on your team to be the best
  9. LISTEN intently
  10. Be present
  11. Strive to ask really good questions
  12. Empathy
  13. Authenticity
  14. Eagerly give credit to others
  15. Know what you are talking about
  16. Ability to say when you do NOT know what you are talking about
  17. Know when to Keep. Your. Mouth. Shut. (K.Y.M.S)
  18. Strive for radical humility (Thank you Wayne Dyer for that one)
  19. Uncompromising commitment to the success of others

Lastly, a bonus tip on building trust from Warren Buffet.

Live by the Warren Buffet’s Newspaper Test:

Act as if every decision made winds up on a front page article “written by a smart but pretty unfriendly reporter” that will be read by your family, friends and neighbors.

Wrapping It Up

Thanks for stopping by to check out this post. I deeply appreciate it.

So what are your thoughts? I would love to hear your comments on how do you Build Trust?

 
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Dying to Enter the eCommerce Graveyard: Please Don’t Be Next

“Here lies a once great company that millions of consumers loved and adored which is now being laid to rest.” – Tombstone of a once great company found in the eCommerce Graveyard.

The brick and mortar “Retail Apocalypse” is upon us and shows no signs of slowing down.

To put this in perspective, the term “Retail Apocalypse” now even has its own Wikipedia page.

In particular, just think of the numerous tombstones populating the eCommerce Graveyard.

Additionally, the list of residents entering the eCommerce Graveyard keeps increasing at staggering numbers.

For example, it was recently reported that 75,000 retail stores could be facing their demise.

Unfortunately, many of these companies entered the cemetery due to their own self inflicted wounds.

Those companies that just never quite figured out how to establish a healthy eCommerce strategy for survival.

The Growing eCommerce Graveyard

Two more recent additions to the eCommerce graveyard that once seemed improbable include Toy “R” Us as well as a hundreds of Sears locations.

Both victims joined the list of companies who failed to adjust to customer buying habits.

How did this happen?

Especially with Sears. If you are a Baby Boomer or Gen X, think back to the excitement when a new Sears catalog arrived in the mail. (Of course anyone under 30 is probably asking, “what is a catalog?”)

That catalog served as an early comparison to online shopping.

The Sears catalog provided a selection of thousands of products at your finger tips. Right in the comfort of your home.

With pens or markers in hand, kids all over the country circled desirable gifts for birthdays and holidays.

How on earth did Sears miss the eCommerce wave?

Sears converting their catalog to an aggressive eCommerce strategy seems like a logical and easy decision. At least now it does anyway. Only twenty years too late though.

Well, all good things must come to an end.

Who Will Be Next in the eCommerce Graveyard? 

eCommerce Graveyard

Do you think any of us will live long enough to see Amazon, Apple or Netflix enter the eCommerce Graveyard?

What events or new technology could possibly take down these powerful companies?

It certainly seems remote at this point of time.

Yet, once again, all good things come to an end.

However, there was a time when Sears and Toys R Us were also powerful companies.

Years ago, their eminent failure seemed unfathomable as well.

It was sad and painful to watch the demise of Sears and Toys “R” Us. Didn’t both companies have ample time to adjust and change directions?

Sears and Toy “R” Us both had plenty of warning signs.

Yet, thousands of employees are now out of work. Shareholder investments have vanished. Remaining loyal customers are forced to shop elsewhere.

Why did they ignore embracing an aggressive eCommerce strategy?

So as an entrepreneur, how does your digital footprint look?

What is your eCommerce strategy?

Do you see warning signs at your business? In your industry?

History repeats itself. Learning from the past certainly offers tremendous benefits.

To avoid following the footsteps of failure from once great companies, it helps to understand what happened.

Let’s go back a few years and take a look at a few early arrivals to the eCommerce Graveyard.

Residents of the eCommerce Graveyard

eCommerce Graveyard

Think back to the 1990’s when the retail industry experienced a revolution with “Big Box” stores.

Major “category killers” were completely dominating the retail landscape.

They created economies of scale with distribution, buying power, as well as marketing with mass appeal.

During the process, they wiped out every mom and pop retail store that stood in their way. Small retailers or even regional retailers barely stood a chance.

Yet, as these brick & mortar retailers raced to eliminate the competition, they were actually driving themselves right into extinction.

Plenty of articles exist explaining how management of these corporate giants just horribly misunderstood their customers changing buying patterns.

For example, Harvard Business School issued this outstanding 2011 article, “Retailing Revolution: Category Killer on the Brink”.

In the article, the author uses a fantastic line describing many of these mass retailers simply “didn’t see the bullet coming”.

Obituaries from the eCommerce Graveyard

A few early entrants in the eCommerce graveyard that we will discuss today includes Borders Bookstores, BlockBuster, and Circuit City.

By the time the Great Recession hit in 2008, many of these “category killers” were in deep trouble. Actually, their fate was already sealed.

Let’s take a step back in time to look at the obituaries of these once powerful retailers.

Border’s Bookstore (1971-2011)

Borders Bookstore, born in 1971 to brothers Tom and Louis Borders in Ann Arbor Michigan. Borders Bookstores entered the Ann Arbor community at a time when spirits ran high. Especially since the Michigan Wolverines completed the 1971 football season undefeated eventually taking their talents to the Rose Bowl that year.

The Borders Brothers proudly watched their baby grow from toddler to young adult gaining a competitive edge with a highly sophisticated software system allowing them to better track inventory and forecast sales.

As a young adult, Borders gained national attention under the leadership and guidance under CEO Robert DiRomualdo.

Borders entered the big leagues once Kmart acquired the company in 1992. Meanwhile the company continued an aggressive brick and mortar expansion.

Borders Bookstores eventually spun off from Kmart in 1995 (the same year that Amazon started selling books online).

The book store chain, renamed Borders Group Inc., spins off from Kmart and goes public on the New York Stock Exchange (Ticker: BGP) under CEO Robert DiRomualdo. At the time, Borders’ innovative inventory management system was considered “ the envy of the industry ,” as one publisher put it, and was a catalyst in the forthcoming boom in the company’s superstore footprint.

Beginning of the End

Borders stock price reached an all-time high in 1997 at $44.88. By 2007, the stock price fell to $12.28. Eventually, the company liquidates in 2011.

Unfortunately Borders sealed their fate with two fatal moves.

First, the over expansion of their brick and mortar retail stores.

For example, In 1998 Borders expanded its brick and mortar presence by over 25% with adding 52 superstores. Hindsight makes us either a genius or a fool, right?

While Amazon relentlessly pursued online dominance, Borders focused on wiping out every little mom & pop book stores completely oblivious to the fact they were digging their own grave.

Secondly, Borders failed to ever establish any type of viable eCommerce strategy. Ignoring an online presence guaranteed a plot in the eCommerce graveyard.

In 2001, Borders turned online sales over to Amazon. At that time, Borders officials thought online sales would always be small. It invested more and more money into opening more stores, signing long-term leases for them.

The Ann Arbor News lays out a fascinating timeline revealing the growth and eventual failure of this corporate giant: “Borders’ rise and fall: a timeline of the bookstore chain’s 40-year history“.

Blockbuster (1985 – 2010)

Blockbuster Video, born to computer programmer David Cook of Dallas, Texas in 1985.

As an infant, Blockbuster experienced explosive growth expanding to four stores.

Yet, growth came at a high cost. The young company lost $3.2 million during this aggressive growth stage in 1986.

David Cook sought foster parents (investors) for his money losing youth. In 1987, Wayne Huizenga, founder of Waste Management, adopted (purchased) Blockbuster Video from David Cook for $18 million.

Wayne Huizenga visualized big things for his adopted child. Blockbuster aggressively expanded to 3400 stores by 1993.

By the time young Blockbuster hit 9 years of age in 1994, Viacom purchased the youth for a “Blockbuster” deal of $8.4 billion. Yes, BILLION!!

Could Have Purchased Netflix for $50 Million

Meanwhile, Reed Hastings founded Netflix in 1998. Why? Well……

In 1997, Hastings returned a movie rental to Blockbuster 6 weeks late enduring a significant late fee of $40.

He was completely appalled by the $40 fee. How incredibly ironic! That $40 late fee contributed to the total collapse and failure of Blockbuster.

In 2000, Blockbuster passed on several opportunities to purchase Netflix for $50 million. Yes, MILLION!

Netflix went public in 2002 with a market value of $95 million. As of this post, Netflix market value exceeds $100 billion.

On Sept. 23, 2010, Blockbuster filed for bankruptcy, a few weeks shy of its 25th birthday.

How on earth could this corporate giant fail so miserably to a start up?

Blockbuster became another addition to the eCommerce graveyard.

Technically, the Blockbuster tombstone cannot be carved out just yet. Blockbuster made national news in 2018 with the last remaining store still standing in Bend Oregon:

“There’s one Blockbuster left . . . and it’s the saddest place in America.“

Forbes lays out an interesting timeline explaining the steps towards the Blockbuster failure. Particularly each disastrous misstep from 2003 until its bankruptcy in 2010: A Timeline: The Blockbuster Life Cycle

Fast company also posted a fascinating timeline laying out the Blockbuster demise: Blockbuster Bankruptcy: A Decade of Decline

Circuit City (1949 – 2009)

Circuit City was born to Samuel Wurtzel in Richmond, Virginia in 1949.

Actually, the founding of Circuit City epitomizes the zeal and courage of a relentless entrepreneur with a big vision.

While traveling from New York to North Carolina for a family vacation, Samuel Wurtzel made a stop in Richmond, Virginia.

During the stop, Wurtzel visits a barber for a haircut. While receiving a haircut, the barber mentions that the first television station in the South opened in Richmond. Immediately his entrepreneurial instincts kick in and Wurtzel smells opportunity.

Wurtzel takes the entrepreneurial leap of faith and moves his family to Richmond to open a television store. Incredible foresight!

Households with televisions grew from 1 million in 1949 to 20 million by 1953.

Wurtzel implemented a brilliant strategy. A salesman would drop off a television at a prospect’s home, free of charge for one night while offering to pick it up the next day. More times than not, the television stayed put and the sale was closed.

The company eventually grew to 700 locations with $12 billion in revenues reaching #151 on the Fortune 500 Top Companies in 2003.

However, Circuit City filed for bankruptcy just five years later in November 2008.

Good to Great to Gone

Circuit City is a colossal failure and a textbook example of the risks a company takes by ignoring consumer buying habits and technology.

Author Jim Collins featured Circuit City in his 2001 iconic business book, “Good to Great”. Collins describes how Circuit City thrived through massive growth during the 1980’s and 1990’s which separated itself from the competition. Thus, deemed a “Great” company.

Ironically, Alan L. Wurtzel, Circuit City former CEO and son of the company founder, also wrote a fascinating book in 2016 called “Good to Great to Gone: The 60 Year Rise and Fall of Circuit City”.

In this book, Wurtzel describes how there was an internal arrogance. Furthermore, the company was so successful in the brick and mortar space that they felt eCommerce could not possibly have a profound impact on the company.

Alan Wurtel served as Circuit City CEO from 1972 to 1986. He was also Chairman of the Board from 1984 until 1994.

“Don’t think you know all the answers, because once you get complacent, you’re in trouble,” said Alan Wurtzel during a 2012 Wall Street interview.

He also stated, “The world is always changing, and you can’t rely on your past accomplishments”.

Apparently in 2018, Circuit City left the tomb to resurrect itself from the dead: Circuit City to Announce Official Company Relaunch at the 2018 Consumer Electronics Show on January 8th.

It will certainly be interesting to see how far this Circuit City can rise.

Can lightning strike twice?

Don’t Find Yourself Six Feet Under

As an entrepreneur, where do you stand?

Is this comparing apples to oranges for you?

Or is this hitting closer to home than you realize?

Are you about to fall off of the cliff and completely unaware of what is happening?

The economy seems extremely strong right now.

Unemployment continues at historically low levels.

During times of a strong business environment and healthy growth is a perfect time to self-reflect and evaluate your strategy.

How is your business doing?

Are you prepared for a downturn?

So sorry to come across as “Debbie Downer” or rain on the parade.

However, a strong economy tends to create complacency.

Alison Levine, author and leadership expert, declares that “complacency kills“.

Maintaining a healthy sense of urgency at your organization keeps the fire lit. Staying curious and hungry helps to drive your company toward new opportunities.

With the corporations mentioned above, the incentive to change just never existed.

Continuing to “do things the way we’ve always done it” exceeded the desire to adapt.

All of these companies dominated their sectors at one point in time.

Many were Wall Street darlings. Yet, they completely took their eye off the ball.

Why?

Arrogance? Fear?

A lack of understanding their customers changing needs?

Ignoring technology?

Maybe it is all of the above.

Could it possibly be that each company was so deeply ingrained and invested into their respected business process that a pivot was just unimaginable and unattainable?

Motivation for Change to Avoid the eCommerce Graveyard

Fear plays the role as a wonderful motivator.

Are you thinking, well this will never hit my company?

What if it does?

Do you have more to gain or lose by embracing eCommerce?

Are you taking a big risk doing nothing?

If you don’t embrace eCommerce, could you be the next Sears or Toys “R” Us?

Obviously watching Blockbuster, Borders and Circuit City all fail so miserably was not enough motivation for the executives at Sears and Toys “R” Us to change.

Seems like they had enough information to avoid the same fate?

The products sold on the shelves at Sears and Toys “R” Us were all identical to the products on the shelves at Walmart. Also available on Amazon.

There was no distinct competitive advantage regarding the product itself.

Walmart just maintains a stronger and healthier retail brick and mortar operation. More importantly, Walmart adjusts to customers buying habits.

Focusing on change certainly serves Walmart’s sustainability as well. Even Walmart is now calling itself, Walmart.com.

Meanwhile, Amazon makes it amazingly easy to buy. Convenience and simplicity rules. Amazon relentlessly raises the bar on creating a satisfying customer experience.

Sears was well aware of that fact with the decades long dominance they enjoyed.

So, let’s get back to your business.

What if your widgets or processes are identical to your competition?

Yet, what if your competitors are making it easier to buy from them?

Furthermore, what if your competitors are more easily found on a Google search?

In addition, what if they post more frequently on social media and engage with potential customers? Your potential customers.

What if they consistently deliver content that provides valuable information to help make a quick and easy buying decision?

If you are looking to avoid the eCommerce Graveyard, there is no better time than the present to get started.

Trust me, dying to enter the eCommerce Graveyard is not fun.

Take the leap of faith & make the plunge. You will love the thrilling eCommerce ride.

Happy eCommercing

 
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Experts Offer a Cure for Those Suffering from “Sacred Cowitis”

Does your business or organization suffer from Sacred Cowitis?

Are you thinking, what on earth is Sacred Cowitis?

So glad you asked.

Well, according to Webster’s dictionary, the definition of Sacred Cowitis (cow-eye-tis) goes as follows:

  • Sacred Cowitis occurs within a business or organization gripped with fear and resistance to change. Particularly with outdated technology, systems and processes.
  • Sacred Cowitis is synonymous with the DREADED DISEASE of “This is how we have always done it…..plus I hate change”

Well, Sacred Cowitis truthfully has not found its way onto Webster’s but I am working on it.

Well today let’s discuss those unfortunate sacred cows that hold a business back.

You know the type. Those stumbling road blocks that everyone fully recognizes, yet no one finds the time, ability or stamina to change. The obsolete rules, regulations and rituals that prevent progress.

Above all, the unfavorable circumstance where staff would rather continue performing existing tasks that are comfortably known versus attempting to tackle continuous improvements or change.

Unfortunately doing the same thing over and over while hoping for a different result defines insanity, right?

As a result, you cannot afford to allow your company to be victimized by Sacred Cowitis.

In other words, embrace change at all costs.

For example, the New York Times Best Selling Author and adventurer, Alison Levine, declares that “complacency kills”.

It takes courage, determination and persistence to break old habits.

What does it take to shatter the resistance?

Taking charge of a project or situation to allow a company to enter new technologies and processes. Especially at a small business.

Though more flexible than a large corporation, many small businesses lack the skills, experience and expertise to tackle a significant project. They just need a helping hand.

Asking the Experts on How to Cure Sacred Cowitis

Sacred Cowitis

Think of all of the corporate giants that fell victim to Sacred Cowitits.

For example, a short list of once powerful companies include:

  • Kodak
  • Toys R’Us
  • Blockbuster Video
  • Circuit City
  • Borders Bookstore

This list represents companies who’s commitment of “This is how we have always done it” weighed greater importance above embracing change.

Can you imagine being the corporate executive or board member at Kodak who disregarded digital photography?  Pounding the table and declaring “Kodak was built on print and we will die with print.” Very sad.

As these companies prove, ignoring changing customer behavior certainly invites fatal results.

So, what is the pulse at your company regarding Sacred Cowitis?

Are you embracing change and aggressively pursing new opportunities?

On the other hand, do you find it challenging to tackle new systems and processes?

To avoid following the footsteps of failure from once great companies, let’s turn to a couple of change experts.

Two individuals dedicated to curing Sacred Cowitis while creating a healthy competitive edge for your business.

Susan Tatum: Founder of The Conversion Company

Susan Tatum, Founder of The Conversion Company in Oxnard, Ca., offers outstanding advice and encouragement for her clients when it comes to embracing change.

For example, in a recent blog post titled, “Why yesterday’s LinkedIn tactics no longer work – and what to do about it“, Susan provides excellent tips for keeping current with your LinkedIn strategy.

In that post, Susan recommends the three T’s:

  1. Tighten (your focus)
  2. Tweak (your messages)
  3. Test (your approach)

This sound advice also translates extremely well with other aspects of your business. However, do yourself a favor read the entire post by clicking here to capture the details of Susan’s brilliant advice.

Additionally, click this link below for another fantastic blog post from Susan on executing effective LinkedIn Strategies:

“6 Critical Numbers for Your LinkedIn Business Development Program”

As a LinkedIn Expert, Susan offers 25+ years of experience running national and global marketing and corporate communications programs. In particular, Susan targets technology and professional services firms.

Throughout phone conversations with Susan, you gather a strong sense of passion, determination and dedication to delivering a high level of customer success.

“Our focus is to build trust among your ideal prospects. Our specialty lies in applying social media to complex buying environments.”

Devotedly building that trust allows Susan to help her clients break old habits while implementing new methods of engagement. Her primary focus targets designing strategic programs for LinkedIn Business Development.

If you find yourself in need of a quick and highly effective cure for Sacred Cowitis with customer engagement, contact Susan Tatum at The Conversion Company.  Connect with Susan on LinkedIn here.

Jason Ray: CEO of Paperless Parts

Jason Ray, CEO of Paperless Parts in Boston, spends his time passionately and aggressively helping manufacturers embrace change.

In particular, Jason and his dynamic team created a powerful solution for a significant hurdle and constraint that nearly all manufacturers face.

While searching for a manufacturing business to purchase, Jason identified a major problem: The quoting process.

For a majority of manufacturers, the quoting process is cumbersome, clunky, outdated and frustrating.

Ever spend days or weeks waiting for a request for quote (RFQ)?

Well the team at Paperless Parts works relentlessly to help eliminate the dreaded RFQ process.

Click link below to learn more about Paperless Parts:

Job Shop Manufacturing Software Built to Help Your Shop Succeed

During conversations with Jason, his contagious enthusiasm and passion spreads right through the phone.

“We are intentional in everything we do, gritty in the pursuit of excellence, and curious with a bias for action.”

Serving in the Navy for eight years, Jason brings a wealth of leadership experience and structure to this exciting new software solution.

Having personally gone through a demo of this extremely impressive software program, you will be blown away by the simplicity which makes a manufacturers life much easier.

Yet, though it is incredibly user friendly, Paperless Parts offers a highly sophisticated software program that lends a tremendous competitive advantage for its customers.

In conclusion, for any custom manufacturer or job shop who find themselves stuck with the same quoting process as 20 years ago – odds are – it is time for a change.

Jason Ray and the team at Paperless Parts are on a mission to cure Sacred Cowitis by “making manufacturing more accessible”. Well done Jason!! Connect with Jason on LinkedIn by clicking here.

Conquer Sacred Cowitis with LinkedIn

Sacred Cowitis

In conclusion, LinkedIn is loaded with amazing experts dedicated to helping your business fight Sacred Cowitis.

Please avoid letting the dreaded disease of “This is how we have always done it” negatively impact your business.

Take it from Susan and Jason who passionately conquer Sacred Cowitis one client at a time.

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The Top 25 Blog Topics for Manufacturers Eager to Start Blogging

Blogging plays a critical role with any B2B marketing strategy. One major challenge though: Where to start? Creating blog topics that readers find helpful and educational certainly is not an easy task.

Additionally, many small business owners question the value of blogging for their company.

Especially for those in manufacturing.

Common questions asked during discussions with manufacturers who are considering blogging:

  • Who has time to actually blog?
  • In particular, as a manufacturer or small business owner, what the heck do you blog about anyway?
  • Does a business truly benefit from blogging?
  • More importantly will blogging connect with new customers?
  • Bottom line, will blogging actually generate sales?

Blogging delivers powerful results for many reasons.

Several benefits of blogging include:

  • Tremendous SEO Value
  • Customer engagement
  • Educate customers
  • Inform potential prospects on your company, products, and services
  • Convert content from blogs into social media posts

So, let’s dig deeper on blog topics to consider for your business.

Where to Start?

Blog Topics

Actually there are tons of blog topics to consider for your customers.

Yet, taking the time and energy to actually sit at a computer and type these thoughts out sounds overwhelming. Daunting. Seems like a waste of time.

I get it. You are BUSY! Constant fires to put out. You have a steady list of issues that need addressing.

Stopping to type out a blog post typically does not make the priority list for most small business owners.

Especially those who lack the experience in creating content. Let alone the desire.

A common response to blogging, “if I wanted to be a blogger, I would have gone to journalism school”.

However, the great thing about blogging, anyone with a computer, laptop, cellphone or mobile device can now create a voice.

Stepping out of your comfort zone to put your thoughts out on the World Wide Web can be intimidating for many.

So, wondering where to start?

For example, find a topic that you are an expert in or where you share a deep passion. Then sit down and just start typing.

Still questioning what blog topics would create the most impact for your business?

The goal here is to help you achieve your goals.

Blog Topics: Just Start

Blog Topics

When it comes to blogging, just start with one blog a month.

However, just start.

Then consider every other week. Possibly graduate to once a week.

Just start.

It takes time though. Be patient.

Yet, give it everything you’ve got.

Just start.

For your first post, simply begin blogging about your business. Your product line. Your area of expertise.

No one knows your products better than you.

If someone was sitting across from you and you needed to describe what you do, type that.

Consider this analogy: pretend you are in front of a classroom of 6th graders and it is “Mom or Dad comes to school for career day”.

Well, you better be on your “A game” because 6th graders are a tough crowd. They can smell fear or weakness a mile away.

Also, you have the pressure that you MUST be the “cool” parent. You don’t want the other kids telling your child how boring you are.

Years from now these kids will say “I never wanted to become a _______, because this parent came in our classroom and did such a pathetic job explaining what they did for a living that I vowed to NEVER do what they do.”

How is that for pressure or incentive to share what you do with a passion?

Blog About What You Know Best

Another option when determining blog topics, pretend your dream customer is standing in front of you. It could be at a trade show. At a conference or event. The coffee shop. On the street.

What would you say? How would you describe your business? Can you paint a clear picture of how you can solve their problem?

Otherwise, another scenario, let’s pretend a customer is taking a tour of your facility.

During a tour, you will demonstrate why you are the BEST option to provide the solution that this particular customer is seeking? You will show off your amazing team, equipment, machinery, and resources. Well, there’s another potential blog post. Actually, an entire series of blog posts.

The internet makes everyone’s lives more efficient.

Especially since it is unrealistic to stand face to face with every prospect.

To turn it around, when you are the buyer seeking a new vendor, where do you turn?

In the past, you had to go to trade shows to find the best vendors.

Back in the 1990’s, I recall going to trade shows to find new vendors. In January. The dead middle of winter. It was expensive (plus very cold). It also meant time away from running my business. On another occasion many years ago, I traveled to Hong Kong searching for new vendors. It was an absolutely wonderful experience, just not efficient.

All of that just to find new products and vendors. Sure it is great meeting new people face to face.

However, conducting a Google search or connecting with new vendors on social media works so much more efficiently and affordably.

Blogging helps you make those valuable and profitable connections. Efficiently.

Blog Topics for Your Business

Finally, let’s dig into blog topics to launch your blogging journey.

Below includes a list of blog topics to consider when starting your blogging career:

  1. How you started the company
  2. Why you chose entrepreneurship
  3. Explain the benefits of outsourcing the products and services that you offer
  4. Information about your community
  5. Start a blog series on your proprietary products or processes
  6. Reviews on the equipment and tools that you use
  7. Meet the Team: Profile your amazing employees
  8. Case studies
  9. Customer Service Questions – FAQ’s are excellent blog topics
  10. Benefits of Made in USA
  11. Recycling
  12. Safety concerns in your industry
  13. New equipment purchases
  14. Updates or improvements on your website as well as progress with internet marketing
  15. Engineers in your industry
  16. Influencers in your industry
  17. Customer testimonials
  18. Historical figures in your industry
  19. What is (Blank)? — describe the parts that go into your products
  20. Explain how your products are made
  21. Point out industries that use your products
  22. Book Reviews
  23. Videos, Videos, Videos – start creating How-To videos of your expertise as blog posts
  24. Create Resource Guidebooks
  25. Company announcements such as new hires, new efficiencies, new products

FREE Blogging Resources

Lastly, below includes several outstanding free blogging resources to help you get started:

In conclusion, one thing to remember, just get started!

For those already enjoying success with blogging, what resources do you find the most helpful?

Thank you for reading & wishing you tremendous success with your blogging journey!

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Alison Levine Takes You to Exhilarating Heights with “On the Edge”

Looking for inspiration? Motivation? Are you finding the challenges ahead of you similar to climbing Mt. Everest? If so, then you need Alison Levine in your life.

Who is Alison Levine? Well, so glad you asked.

According to AlisonLevine.com, she holds the following titles:

Adventurer. Explorer. Mountaineer. NY Times Bestselling Author. Leadership Advisor. Beer Muse. Filmmaker. Story-teller. Dog-lover. Empowerer. Knowledge-sharer. Challenge-taker. Boundary-breaker. Growth-enabler. Impact-maker. Game-changer.

Alison Levine is an incredible source of inspiration. Her massive accomplishments are truly mind blowing.

She is fiercely competitive, yet reveals a deep passion for bettering those around her. Alison is a role model for all ages.

Alison Levine: Adventurer & Leadership Expert

Alison Levine

First of all, Alison Levine is a polar explorer and mountaineer. For example, Alison made history serving as captain of the first U.S. Women’s Mt. Everest Expedition team.

Actually, Alison just recently celebrated her 9 year anniversary of successfully reaching the peak of Mt. Everest.

Additionally, she also climbed the highest peak of each continent as well as skied both the North and South Poles (otherwise know as accomplishing the Adventure Grand Slam).

In addition, Alison is a leadership expert. Alison brings a diverse background of experience not only as an adventurer but also……

  • Worked for Wall Street firm Goldman Sachs
  • Served as deputy finance director for Arnold Schwarzenegger’s successful bid as Governor of California
  • Spent four years as an adjunct professor at the United States Military Academy at West Point in the Department of Behavioral Sciences and Leadership
  • Serves as a strategic advisor at the Thayer Leader Development Group at West Point
  • Founder of the Climb High Foundation
  •  Served as a Senior Fellow at the Coach K Center on Leadership & Ethics at Duke University

For additional info on Alison, here is an outstanding article about from Forbes: What Polar Explorer Alison Levine Knows About Leadership That Corporate Managers Don’t

Alison has also built an incredibly successful career as a dynamic keynote speaker on leadership and teamwork.

However, don’t take my word for it.

Do yourself a favor and meet Alison Levine by checking out her amazing Ted Talk:

 

“On The Edge”

Believe it or not, Alison also found the time to become a New York Times Bestselling author.

So, are you looking for an incredible book with a rare 5 star rating? Need some inspiration and motivation? Seeking new ideas and strategies to enhance your leadership skills?

Well, look no further. Alison Levine wrote just the book for you:

“On the Edge: Leadership Lessons from Mount Everest and Other Extreme Environments”.

“On The Edge” is truly a must read book!

You will find Alison’s stories fascinating, exhilarating, and inspiring.

The book reads as a gripping novel where you cannot wait to turn the next page.

She does an amazing job describing every detail from each adventure. With reading each page, Alison makes you feel the extreme cold while climbing terrifying heights.

However, she still finds the courage to continue on taking each painful step. For example, she finds herself violently ill on a climb, yet still accomplishes her goal of reaching the peak (you need to buy the book to find out details).

Alison not only reveals outstanding stories on overcoming extreme challenges, she also displays strong character and is a woman of high integrity.

Actually, reading this book became a family affair for myself.

My 12 year old daughter and I read this book together. We LOVED it! Alison is truly a role model for any age.

Alison Levine on Complacency

A few thoughts from Alison on complacency:

  • “…mountaineering, business, leadership, and life: fear is fine, but complacency will kill you. Don’t ever beat yourself up for feeling scared or intimidated. Fear is a natural human emotion, and it’s a strong survival instinct that keeps us alert and aware of our surroundings.”
  • “Avoiding complacency isn’t just about keeping yourself in check; it also means watching out for all of your teammates.”
  • “Ironically, complacency is a risk that skyrockets when things are going well—when you feel safe enough.”
  • “You’ll never improve your skills if you keep following your standard route. And getting out of your comfort zone is not enough; you must take it a step further and learn to be comfortable with discomfort. This is an important part of leader development”

Alison Levine on Leadership

Alison shares her view on leadership:

  • “Leadership is everyone’s responsibility. It is not solely the responsibility of the C-level executives or the management team within an organization. We are all in a position to proactively work toward having a positive effect on the people around us. Everyone in an organization is responsible for helping to move forward with the mission; but in addition, all employees/ teammates/ people must realize it is also their responsibility to look out for the people on either side of them.”
  • “You want to get out on the route with people who are better and stronger than you are; you yourself can become better and stronger by observing others who are more experienced and more skilled.”
  • “Weak colleagues are not hard to identify. These people, to put it bluntly, are liabilities in terms of the job you are trying to do. They lag behind, drag everybody else down, and hinder progress.”
  • She continues, “If only they could perform at a higher level, or be smarter, or work more efficiently—or, even better, just go away—the entire team would be so much more productive. And happier! And although it may be painful to even imagine this, there could even be a time when, in fact, you might be the one who can’t cut it—when you are the person everyone else wishes would just go away, even if you are trying your hardest.”

Wrapping It Up

 

These quotes just scratch the surface of the energy, enthusiasm as well as brilliant insight that Alison offers in her book.

Whether you are climbing new heights, tackling tough challenges, or seeking exciting adventures, Alison Levine delivers outstanding guidance and advice on how to reach success.

Bottom line: I strongly recommend grabbing a copy of “On the Edge” today!

After reading this amazing book, you will be motivated and equipped to conquer whatever goal you set for yourself.

Also, check out this outstanding article on Alison from Inc: Business Lessons from Mount Everest: Why Taking a Step Back Can Sometimes Be Better Than Pushing Ahead

By the way, Alison suffers from Raynaud’s disease, which causes the arteries that feed her fingers and toes to collapse in cold weather. This leaves her extremely susceptible to frostbite.

Think about that for a minute. So what does she do? She simply becomes one of the greatest extreme weather adventurers in American history. Well done Alison!

Lastly, to keep up to date on her adventures, connect with Alison on LinkedIn. You can also follow Alison (& Trooper – her beautiful black lab) on Twitter.

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Teaming up with a Sherpa to Climb the Entrepreneurial Mountain

Do you have a Sherpa in your life?

In other words, a trusted guide to help you conquer the extreme challenges that you face.

This is especially important for business owners and entrepreneurs.

As an entrepreneur since 1990 (which just means I am extremely old), I can attest that climbing the entrepreneurial mountain certainly requires a tremendous amount of guidance and support.

In a recent blog, I reviewed the outstanding book authored by Alison Levine, “On the Edge: Leadership Lessons from Mount Everest and Other Extreme Environments“.

Alison Levine survived climbing Mount Everest. Twice!

To survive climbing Mount Everest, Alison explains that climbers commonly find success by teaming up with a Sherpa.

While researching the Sherpa community, I stumbled on this fascinating article from the NY Times: “Deliverance From 27,000 Feet”.

This article piqued (or should I say peaked) my interest on the incredible courage and fearlessness of a Sherpa.

Also, the shear danger that they face while assisting those on a quest to conquer Mt. Everest.

Check out this video below:

Can You Climb it Alone? 

What was the tallest mountain before Mount Everest was discovered? The answer: Mount Everest. It just wasn’t discovered yet. My daughter loves to tell that joke.

Is climbing Mount Everest comparable to running a business? Or vice versa?

Both are thrilling adventures. Each offers a strong sense of accomplishment.

Once you reach the summit, you can celebrate. A life’s dream achieved. Jubilation!

Yet, once you reach the top, how on earth do you get back to the bottom? Hmmm…..

It takes tremendous skill, determination, guts, courage, as well as a bit of insanity. Probably, lots of insanity.

So yes, running a business must be just like climbing Mount Everest. Lots of insanity, right?

Of course, this is coming from a guy who has never actually climbed a mountain. Ever. For that matter, I even struggle climbing up a ladder.

Anyway, for a select elite few, climbing Mount Everest is a major “bucket list” achievement. A chance of a lifetime. Major bragging rights. Thrill seekers reaching for the ultimate high.

It doesn’t get any higher than Mount Everest.

Can a westerner accomplish this massive feat on their own?

A crucial component for the western adventurer to successfully reach the Mount Everest Summit is partnering with a highly experienced Sherpa.

Sherpas are commonly referenced as mountain guides who help climbers navigate the brutal terrain while reaching their goal.

However, you might find this interesting, the definition of a Sherpa according to LiveScience.com actually states:

It’s worth noting that the term “Sherpa” does not actually mean “mountain guide,” as many people believe, but instead refers to an ancient ethnic community of some 154,000 members.

Who Is Your Sherpa?

So, who helps you navigate the treacherous terrain with running your business?

Do you have a Sherpa in your life? Someone who has climbed the path prior to you? A person who knows and understands the dangers ahead?

Westerners may want or try to rush to the top of Mt. Everest.

However, a good Sherpa certainly wants the climber to reach the top as well.

Yet, more importantly, they want a safe return which is the primary goal.

Especially since an expedition up Mount Everest can turn deadly on a moments notice. Even for the most experienced and trained Sherpa.

The Sherpa culture is synonymous with mountain guides due to living in the mountains of Nepal and the Everest region.

A  Sherpa helps carry necessary equipment, fix ropes. Despite hazards and risks, a Sherpa provides guidance to ensure a safe climb and descent.

Check out this cool article: “The World’s Most Renowned Sherpa Talks Mt. Everest”

A successful climb involves years of preparation and planning. Studying weather patterns.

Plotting out the safest route to success.

Just like running a business.

So who helps plot your route?

Additionally, who plays a critical role in your success?

In other words, who provides the necessary guidance for you to reach your summit and achieve a safe descent?

A coach. Teacher. Mentor. Business partner. A boss. An ex-colleague. Significant other. Parent.

Do you rely on business partner? A key employee. Your accountant. Attorney. A vendor. Business consultant.

Sources to Connect with Your Next Sherpa

Aligning yourself with seasoned experts who know the terrain offers the opportunity to reach your peak much quicker.

Sometimes simply learning what NOT to do plays as much importance as what TO do.

Having a trusted confidant in your corner is truly a gift which is absolutely priceless when making tough business decisions.

If you lack a solid guide or Sherpa at this stage, there is no better time than the present to team up with an experienced source.

As the saying goes, “When the student is ready, the teacher appears.

Below includes several resources to consider when seeking your Sherpa.

LinkedIn

 

For starters, LinkedIn, of course, serves as an amazing resource for finding business coaches and advisors eagerly willing to help guide you.

Just look around. Connect. Engage. Express your thoughts. Share your expertise.

Join a LinkedIn Group within your industry.

Follow LinkedIn Influencers who deliver valuable information and engage vibrant conversations. This is an excellent way to find and connect with like minded individuals.

Post questions that negatively impact your business. LinkedIn users love answering questions that displays their talents and experiences while solving problems.

Podcasts

 

Another excellent resource to find a coach or guide: podcasts. It is amazing the number of podcast available.

Again, LinkedIn plays an excellent resource to locate high level podcasts covering any imaginable business topic.

Lately, I have become a podcast junkie while walking the dog, at the gym, or mowing the lawn.

The incredible value is truly priceless. Every episode offers tips, advice or inspiration.

Below includes a number of podcasts that I find extremely helpful & inspirational:

The Small Business Development Center

 

The Small Business Development Center (SBDC): The SBDC is an amazing resource to consider when seeking guidance and advice for your business.

SBDC’s are located on college campus’s throughout the U.S. Being in an academic setting promotes educational resources for entrepreneurs.

As an SBDC advisor for four years, serving entrepreneurs was an absolutely amazing experience.

The SBDC offers one-on-one counseling services, workshops on a wide range of topics as well as provides business tools and resources to help you succeed.

Best of all, SBDC advising services are completely free. Click on this link to find the nearest SBDC.

Chamber of Commerce

 

As a volunteer board member of my local Chamber of Commerce over the past six years, it truly blows me away with the rock solid relationships created by networking at the Chamber. Become a member of your local Chamber and get involved.

A Chamber of Commerce will offer business workshops on hot topics. In addition, networking events where you can discuss issues that impact your business. Connecting with fellow business owners in your area offers wonderful potential to find mentors and trusting friendships that help you tackle day to day concerns.

Additional Resources to Find a Sherpa

Additional resources when seeking business guidance include:

  • CPA – Every entrepreneur needs a rock solid accountant or CPA. Finding one that you trust plays a critical role in your success. Here is a link that connects those searching for a CPA.
  • Trade Associations – Involve yourself in trade associations. Networking with others within your industry offers tremendous opportunity. Finding like minded individuals who speak your language and share your passion is extremely beneficial.
  • Business Networking Group – Check out local Business Networking Groups in your area. If you struggle to find a helpful group, maybe this is your opportunity to start one yourself. Here is a link the BNI which is a popular Business Networking Group.
  • The Friends & Family Plan – Of course, don’t neglect the friends and family plan. These folks know and love you more than most. Sometimes confiding in someone outside of the business world you knows you intimately on a deep personal level can share insight from a unique perspective.

Wrapping It Up

In conclusion, if you are considering entrepreneurship for the first time – Go For It!

Entrepreneurship can be the most thrilling adventure that you will ever encounter.

Yet, a startup needs guidance and advice just as much as the most seasoned veteran entrepreneur.

So regardless of what stage you are at, team up with a top notch Sherpa.

Then go out and conquer that entrepreneurial mountain like there is no tomorrow.

Most importantly, enjoy the trip.

 

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INTEGRITY: “I’d Know, and I Wouldn’t Like Myself”

Integrity

During a recent conversation on integrity with a close friend, he shared an outstanding analogy.

First, let me explain a little history.

I’ve been blessed with amazing friends. This particular gentleman has been one of my closest friends since 7th grade.

He was the class president in high school. On the homecoming court. Played on the football team.

After graduating from college, he served as a military officer.

Since then, he has built a hugely success career in the medical device industry.

Above all, this friend is an excellent father and a loving family man.

My respect and admiration for this friend runs deep.

Bottom line: he is just an incredible person. For nearly 40 years we have been through thick and thin together.

During a discussion not long ago, a question came up regarding building trust and living life with integrity.

This friend never disappoints. Let’s see what you think.

“City Slickers” Provides a Lesson on Integrity

integrity

Sure enough, my friend belts out a scene from the 1991 film, “City Slickers” with Billy Crystal.

It’s a great story about three friends coping with midlife crisis.

Each character is struggling with issues such as marriage, kids, career, aging as well as just coping with life in general.

Ed (played by actor Bruno Kirby) poses a hypothetical scenario to Billy Crystal’s character Mitch and Daniel Stern (Phil).

The discussion revolves around experiencing a “one night stand” outside of marriage.

In particular, Ed asks if Mitch would cheat on his wife if there was absolutely no chance of being caught:

ED: Let’s say a spaceship lands.
Mitch: Good, reality. Are you listening to this?
Ed: A spaceship lands and the most beautiful woman you ever saw gets out. All she wants to do is have the greatest [one night stand] in the universe with you.
Mitch: Could happen.
Ed: When it’s over, she flies away for ever. No one will ever know. You’re telling me you wouldn’t do it?
Mitch: No. Because just what you are describing actually happened to my cousin Ronald. And his wife did find out about it at the beauty parlor. They know everything there.
Ed: Forget about it.
Mitch: I’m saying it wouldn’t make it all right if Barbara didn’t know. I’d know, and I wouldn’t like myself. That’s all.

My friend concludes by explaining that he refuses to take shortcuts or make questionable decisions.

He is certainly concerned about what others would think.

However, he responds “More importantly, I’d know, and I wouldn’t like myself.”

Great answer my friend!

Warren Buffett Front Page Newspaper Test 

Integrity

Many years ago, I was introduced to Warren Buffet’s “Newspaper Test”.

Regarding reputation, Mr. Buffett strongly encourages managers to think of one guiding thought:

On reputation, Mr. Buffett urges managers to think of one guiding idea: “Do nothing you would not be happy to have an unfriendly but intelligent reporter write about on the front page of a newspaper.”

This philosophy (or rather mandate) came to light during the 1991 scandal ridden Solomon Brothers debacle. Buffet took over as CEO when illegal bidding was discovered at the Wall Street firm.

Buffet also shared another priceless piece of advice: “Lose money for the firm, even a lot of money, and I will be understanding; lose reputation for the firm, even a shred of reputation, and I will be ruthless.”

A Life Changing Tweet

 

Warren Buffett’s Front Page Newspaper Test is even more relevant today than ever before. Thanks to social media.

Anyone and everyone now has a platform to cry foul.

Committing an act that employees or customers view as immoral or lack integrity will likely land on Facebook, Twitter or Instagram for the world to see.

The digital age allows all individuals to play the role of reporter or whistleblower.

On the other side of the coin, send out one inappropriate Facebook post or tasteless Tweet and your life can change in that split second.

For example, even celebrities are not immune to a public lashing after sending an offensive Tweet:

  • Rosanne Barr was kicked off her resurrected namesake TV show
  • Gilbert Gottfried is no longer the Aflac Duck
  • Anthony Wiener showed off his….namesake…..well you know how that turned out

So how does a company or individual avoid such disasters?

“Honesty and integrity are by far the most important assets of an entrepreneur.” Zig Ziglar

Maintaining high moral ground certainly goes a long way personally and professionally.

Enthusiasm is contagious. So are strong ethics.

Creating a healthy culture based on integrity and high ethics delivers dynamic results.

Customers don’t necessarily do business with companies. People do business with people.

Establishing a culture committed to high ethics and integrity starts at the top.

For more on leading with integrity and building trust, check out these posts:

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